The Associated Press: “Millions of seniors who signed up for popular private health plans through Medicare are facing sharp premium increases this year — another sign that spiraling costs are a problem even for those with solid insurance. A study to be released Friday … found that premiums for Medicare Advantage plans offering medical and prescription drug coverage jumped 14.2 percent on average in 2010, after an increase of only 5.2 percent the previous year. Some 8.5 million elderly and disabled Americans are in the plans, which provide more comprehensive coverage than traditional Medicare.” The study, done by Avalere Health, a data analysis firm, “found that the average monthly Medicare Advantage premium for 2010 is $39.61, representing an increase of nearly $5 a month from the previous year. That compares with a rise of less than $1.75 a month in 2009″ (Alonso-Zaldivar, 2/19).
This news only affects you of course if you have a Medicare Advantage plan. If you have a Medicare Supplement, it works alongside of Medicare, not instead of Medicare like Advantage plans.
