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Medicare drug plan premium to increase
The government said senior citizens will pay a little more for Medicare prescription coverage next year, but benefits will also improve.
The average monthly premium charged by prescription plans will rise to $30 in 2011, an increase of $1, or about 3%, federal health officials said Wednesday. About 27 million Medicare beneficiaries are signed up for the prescription benefit, delivered by private insurers. Seniors with high drug costs can expect a noticeable improvement next year. The new health care law cuts the cost of brand-name drugs by 50% -- and 7% off on generics -- for Medicare recipients who fall into the coverage gap known as the "doughnut hole." 
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