Health bill would cut drug spending for many on Medicare, budget office says

Medicare beneficiaries would often have to pay higher premiums for prescription drug coverage, but many would see their total drug spending decline so they would save money as a result of health legislation moving through the House, the Congressional Budget Office said in a recent report. Premiums for drug coverage would rise an average of 5% in 2011, beyond the level expected under current law, and the increase would grow to 20% in 2019, the budget office said.