The Cost of Living

What better way to celebrate the New Year than to sock it to grandma and grandpa with big prices increases? That may not have been the exact nature of the conversation at the US insurance companies that participate in the Medicare prescription drug plan, but it sure was the outcome, as premiums are scheduled to rise by an average of almost 25% in 2008. The sharp price hikes for 2008 could mark the beginning of the end of the relatively good news in the plan's first two years of existence.