2016 Prescription Drug Plan prices to rise

Most plans will see a small increase 

The new 2016 Prescription Drug Plans will cost more than they did this year.

There are a few signs of rising costs, from U.S. News and World Report:

• The average monthly premium will increase about 13 percent, from $36.68 to $41.46.
• The amount that taxpayers pay for catastrophic coverage will increase about $4.5 billion. The beneficiary pays 5% of the cost under catastrophic coverage, which supports beneficiaries with high drug costs.
• The maximum deductible for 2016 plans will be $360, $40 more than last year. This year, 67% of prescription drug plans will have a deductible, and 53% of those will charge $360.

Switching to a different plan will help beneficiaries save money, but The Kaiser Family Foundation says that overall, this could be the biggest increase since 2009.

In Virginia, the average monthly premium for 2016 Prescription Drug Plans will increase 19%, according to the Kaiser Family Foundation.