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Private Medicare Plans’ Premium Rates Hit 13 Year Low (1)

Sept. 24, 2019, 3:06 PMUpdated: Sept. 24, 2019, 3:37 PM

Seniors can expect more plan choices and lower rates next month when they enroll in one of the private health plans that provide Medicare benefits.

Monthly premiums for Medicare Advantage plans will be, on average, the lowest in 13 years, and down 23% from 2018, the Centers for Medicare & Medicaid Services announced on Sept. 24.

Together with a 13.5% decline in the average monthly basic premium for Medicare prescription drug coverage, beneficiaries have saved about $2.65 billion in premium costs since 2017, CMS estimates.

Medicare open enrollment runs from Oct. 15 through Dec. 7.

Beneficiaries nationwide will choose from ...