Fact Based List:
KFF: 9 Essential Facts About Medicare and Prescription Drug Spending
Submitted by Anonymous on Thu, 07/07/2016 - 14:56
- Medicare accounts for a growing share of the nation’s prescription drug spending: 29% in 2014 compared to 18% in 2006
- Prescription drugs accounted for $97 billion in Medicare spending in 2014, nearly 16% of all Medicare spending that year
- Medicare Part D prescription drug spending is projected to grow more rapidly in the next decade than it did in the previous decade
- Part D spending has increased in recent years, in part due to the introduction of new, costly breakthrough treatments for Hepatitis C
- Medicare per beneficiary spending is projected to grow more rapidly for the Part D prescription drug benefit than for other Medicare-covered services
- Prescription drugs accounted for nearly $1 in every $5 that Medicare beneficiaries spent out-of-pocket on health care services in 2011, not including premiums
- The expected increase in Part D spending will mean hundreds of dollars more in higher annual premiums and deductibles
- Medicare beneficiaries are now paying less than the full cost of their drugs when they reach the coverage gap and will pay only 25% by 2020
- Beneficiaries are subject to 5% coinsurance after their out-of-pocket costs exceed the catastrophic threshold ($4,850 in 2016)
Source: Kaiser Family Foundation
Source URL: http://kff.org/infographic/10-essential-facts-about-medicare...
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