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    Oct 15 12

    Time to Shop Around for Medicare Rx Plans

    Newport Beach Law Firm

    Premiums for many popular Medicare
    prescription drug plans will soar next year – but seniors don't have to take
    the rate hikes lying down.

    Hunting season is open!
    Unfortunately, there’s little sport in this hunt: in Medicare enrollment
    season, maybe it’s time to hunt down and switch plans.

    You may need to draw on your
    survival skills for this hunt, too. All evidence points to some serious rate
    increases in Medicare prescription drug plans.

    As you likely are aware, October
    15 marks the first day of the enrollment period that extends until December 7.
    Nevertheless, if you haven’t read about the prescription drug increases
    elsewhere, a recent article in Reuters
    has reported that the potential increases may affect as many as 80% of all
    beneficiaries and even generate double digit rate increases for as many as 5.9
    million beneficiaries, or 29% of all beneficiaries. Check out the article
    titled “As Medicare drug premiums soar, it's time to
    shop around
    .”

    So, what’s the take away? “Shop
    around,” indeed! Be sure to look beyond the standard big 10 plans, because
    eight of the top 10 are showing such increases. For instance, under the Humana
    Wal-Mart Preferred Rx increases will be somewhere between 10%-23% for various
    beneficiaries.

    Reference: Reuters
    (October 2, 2012) “As Medicare drug premiums soar, it's time to
    shop around




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