Search is Powered by Google
Medicare / Medicaid / SCHIP News

Medicare Part D Spending Down By $6B As Generic Drug Use Grows

Main Category: Medicare / Medicaid / SCHIP
Also Included In: Pharma Industry / Biotech Industry
Article Date: 03 Nov 2008 - 12:00 PST

email icon email to a friend   printer icon printer friendly   write icon view / write opinions   rate icon rate article
Current Article Ratings:

Patient / Public:4 and a half stars

4.25 (4 votes)

Health Professional:not yet rated

Article Opinions: 1 posts

Medicare prescription drug benefit spending in fiscal year 2008 totaled $44 billion -- $6 billion lower than estimated -- as the program experienced lower-than-expected enrollment, more use of low-cost generic drugs and beneficiaries reducing drug spending to avoid the program's "doughnut hole," USA Today reports.

According to USA Today, the drug benefit program in the last fiscal year had two million fewer participants than originally predicted because fewer low-income people enrolled than expected and some Medicare beneficiaries have elected to keep their existing drug coverage. About 32 million beneficiaries have enrolled in the drug benefit. Meanwhile, generic prescription drugs accounted for 64% of all Medicare prescriptions in FY 2008, compared with 61% in the private sector.

The drug benefit program has cost about one-third less than expected since it launched in January 2006. When the drug benefit began, the Congressional Budget Office predicted it would cost $74 billion annually by 2008.

According to USA Today, Medicare drug costs are expected to rise by 2011 "as early savings fade" and the first of 79 million baby boomers start the program (Cauchon, USA Today, 10/31).

Reprinted with kind permission from http://www.kaisernetwork.org. You can view the entire Kaiser Daily Health Policy Report, search the archives, or sign up for email delivery at http://www.kaisernetwork.org/dailyreports/healthpolicy. The Kaiser Daily Health Policy Report is published for kaisernetwork.org, a free service of The Henry J. Kaiser Family Foundation.

© 2008 Advisory Board Company and Kaiser Family Foundation.  All rights reserved.




Personalized Homepage Weekly Newsletters Daily News Alerts
Opioid Induced Constipation ADHD Anxiety Asthma Autism Cancer Diabetes Lung Cancer Lupus Medicare / Medicaid Obesity and BMI Pancreatic Cancer Stem Cells All 'What Is...' Articles All 'How To...' Articles

Ophthalmology Urology
About Us News Licensing Free Website Feeds Free Tools & Content Tell a Friend Accessibility Help / FAQ Article Submission Links Contact Us

add medical news today to your facebook
medical news gadget

Swine Flu Image

Swine Flu Updates

- Latest Swine Flu News
- What is Swine Flu?
- Map Of H1N1 Outbreaks
- Swine Flu - Top 20 FAQ
- Daily Email News Alerts
Stick with Medical News Today for the latest news updates on swine flu.


These are the most read articles from this news category for the last 6 months:
Top Article Star
Medicaid, COBRA Provisions Under Economic Stimulus Package Expand Health Care Coverage
22 Jan 2009
Under the two-year economic stimulus package released last week by House Democrats, recently laid-off workers could receive health coverage assistance through an $8.6 billion expansion in Medicaid or $30 billion in federal...


LASIK Surgery - Trading in Lenses for Laser
LASIK Surgery - Trading in Lenses for Laser

For millions of Americans, LASIK ends years of dependence on glasses and contact lenses. But there are risks, and the surgical procedure is not for everyone.

more videos are available in our health videos section.