Seniors could save money by switching Medicare prescription drug plans

Kaiser Health News (10/21) reports that the open enrollment season “for the private plans offered to Medicare beneficiaries started Oct. 15 and continues until Dec. 7.” This offer beneficiaries the opportunity to switch prescription drug plans or Medicare Advantage managed care plans. But the “vast majority of seniors don’t switch their plans even if by doing so they could get better, cheaper coverage.” The article adds that premiums for Medicare drug plans this year “are increasing an average 13 percent from $36.68 to $41.46 so checking out the alternatives may help save money, according to an analysis by researchers at Georgetown University’s Health Policy Institute and the Kaiser Family Foundation.”