New Medicare Drug Plans Fail to Provide Meaningful Drug Price Discounts in the San Francisco Bay Area
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Serial Number
Levin Center Identifier
Document Date
2006-03-01
Report Length
14 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Report Type
Found Using Methodology
Yes
Committee(s)
Subcommittee(s)
Commission(s)
Idependent Author(s)
Brief Executive Summary
The Special Investigations Division of the House Committee on Government Reform examines a new prescription drug benefit being offered through the Medicare Part D during the Bush Administration in the San Francisco Bay Area. The analysis compares drug prices offered by ten leading Medicare drug plans with four benchmarks: federal government-negotiated prices, drug prices in Canada, Drugstore.com prices, and Costco prices. The report concludes that the Medicare drug benefit has not succeeded in reducing drug prices. On average, the drug prices offered by the Medicare drug plans are over 75% higher than federal government-negotiated prices, over 60% higher than prices in Canada, over 5% higher than Drugstore.com prices, and almost 2% higher than Costco prices.
Press Releases and Contextual Information
Related Hearings
House Committee on Ways and Means, hearing on "Negotiating Lower Prices for America\342\200\231s Seniors," 108th Cong., (2003, December 11)
Senate Committee on Finance, hearing on "Implementing the Medicare Prescription Drug Benefit and Medicare Advantage Program: Perspectives on the Proposed Rules," 108th Cong., S.Hrg. 108-767, (2004, September 14)
Senate Committee on Finance, hearing on "Implementing the Medicare Prescription Drug Benefit and Medicare Advantage Program: Perspectives on the Proposed Rules," 108th Cong., S.Hrg. 108-767, (2004, September 14)