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August 04, 2011 at 08:00 PM
WASHINGTON BUREAU — Medicare Part D prescription drug plan bidding cut the 2012 national average monthly bid amount.
The national average monthly bid amount will fall to $84.50 in 2012, from $87.05 this year, according to Paul Spitalnic, an official at the Office of the Actuary at the Centers for Medicare & Medicaid Services (CMS).
CMS officials calculate the monthly amount using standardized bid amounts for stand-alone Part D prescription drug coverage and for Medicare Advantage managed care plan drug coverage.
Another key Part D figure, the Part D base beneficiary premium, will fall to $31.08, from $32.34, Spitalnic says.
The base beneficiary premium is a measure of the amount consumers are likely to pay for coverage.
