Fact Based List:
KFF: 10 Essential Facts About Medicare and Prescription Drug Spending
Submitted by Clive Riddle on Wed, 11/29/2017 - 11:49
- Medicare accounts for a Growing Share of the Nation’s Prescription Drug Spending: 29% In 2015 Compared To 18% In 2006, the First Year of the Part D Benefit.
- Prescription Drugs accounted for $110 Billion In Medicare Spending In 2015, 17% of all Medicare Spending That Year.
- The 10 Drugs with the Highest Total Medicare Part D Spending accounted for 21% of all Part D Spending In 2015 (Including Both Medicare Spending and Beneficiary Out-of-Pocket Costs).
- Medicare Part D Drug Plans Have Negotiated Steadily Higher Manufacturer Rebates Since 2006, the First Year of the Part D Benefit.
- Medicare Part D Prescription Drug Spending Per Enrollee Is Projected To Grow Over the Next Decade at Nearly Twice the Rate Than It Did In the Early Years of the Part D Program.
- As New High-Cost Specialty Drugs Become available, Part D Spending In the Catastrophic Coverage Phase of the Benefit Has Increased as a Share of Total Drug Costs, From 14% In 2006 To 38% In 2016.
- Prescription Drugs accounted for Nearly $1 In Every $5 That Medicare Beneficiaries Spent Out-of-Pocket On Health Care Services In 2013, Not Including Premiums.
- Medicare Part D Enrollees Who Did Not Receive Low-Income Subsidies Spent about $500 Out of Pocket On their Prescriptions In 2015, On average, But Some Part D Enrollees Spent Considerably More.
- Average OOP Spending By Part D Enrollees With High OOP Costs Dropped Substantially In 2011, Due To ACA Provision To Phase Out Coverage Gap By 2020—But Costs for This Group are Rising Again.
- High and Rising Drug Costs are a Concern for the Public, and Many Leading Proposals To Reduce Costs for all People—Including Medicare Beneficiaries—Enjoy Broad Support.
Source: Kaiser Family Foundation, November 10, 2017
Source URL: https://www.kff.org/infographic/10-essential-facts-about-med...
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