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August 07, 2012 at 09:57 AM
The Medicare Part D prescription drug plan bidding process should help hold down drug coverage costs in 2013, officials say.
The national average monthly bid amount will fall to $79.64 in 2013, from 5.8% $84.50 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 rise slightly, to $31.17, from $31.08, Spitalnic says.
