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Medicare Drug Spending Expected To Surpass Total Current Rx Sales By 2014

Executive Summary

Bush Administration budget estimates suggest that annual Medicare spending on prescription drugs will exceed recent levels of total domestic pharmaceutical sales by 2014

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Medicare Rx Premium Beats Projections Due To “Robust Competition”

The Centers for Medicare & Medicaid Services is playing up Part D premium levels as a sign that healthy competition among drug plans will help the program suit the pocketbooks of both beneficiaries and the federal government

Medicare Rx Premium Beats Projections Due To “Robust Competition”

The Centers for Medicare & Medicaid Services is playing up Part D premium levels as a sign that healthy competition among drug plans will help the program suit the pocketbooks of both beneficiaries and the federal government

Medicare Part D Costs

The Congressional Budget Office estimates that net Medicare spending on Part D will total $593 bil. over 2004-2013, compared with its original projection of $552 bil. for the same period; neither figure accounts for expected savings to Medicaid and other federal programs. CBO attributes $17 bil. of the $41 bil. increase to changes related to the low-income subsidy and transitional drug assistance. The agency also says Part D plans will be less effective at controlling drug spending than previously assumed, due to regulatory decisions regarding formulary requirements. CBO's estimate follows controversy set off by HHS' latest cost projections (1"The Pink Sheet" Feb. 14, 2005, p. 25). Sen. Lindsey Graham (R-S.C.) has introduced legislation calling for presidential action if Part D costs exceed the original CBO estimate...

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