The average monthly premium for Medicare's basic prescription drug plan will go up $1 in 2014, according to the U.S. Department of Health and Human Services.
The federal agency this week released 2014 projections based on bids submitted by drug and health plans for basic coverage. The average Medicare Part D monthly premium will be $31, up slightly from the $30 monthly premium for 2011-2013.
While that means $12 more in premiums in a year, enrollees likely will end up paying less than in the past overall. The Centers for Medicare & Medicaid Services already have announced that the Part D deductible will fall from $325 in 2013 to $310 in 2014.
The enrollment period for 2014 will be Oct. 15-Dec. 7.