Over the summer, Medicare announced that the premiums for each beneficiary’s actual prescription plan would stay the same. However, it didn’t mention whether or not the copay (the portion of the cost of your prescription that you pay the pharmacy) would stay the same.
Avalere, a data analysis firm, recently conducted a study on this. It reported that during the next year, the copay for preferred brand-name drugs could inflate to $40.60, almost $12 higher than the current average of $29.01. Twelve dollars might not sound like a lot, but if you refill one prescription each month, it will cost you an extra $144 each year — and that’s only for one medication.