Medicare Drug Plan Prices are Increasing Rapidly

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11 pages
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Additional, Minority, Dissenting Views
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Brief Executive Summary
The Special Investigations Division of the House Committee on Government Reform examines the pricing changes under the new Medicare Part D prescription drug plans in the first seven weeks of the program. The analysis reveals widespread, rapid, and significant price increases, with Medicare drug plans raising prices by over 4% between December 2005 and February 2006. The report highlights that these price increases are higher than comparable benchmarks, such as Canadian prices and prices, indicating potential challenges in delivering cost savings to seniors and taxpayers as promised.
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Related Hearings
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)
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Authors–Additional, Minority, Dissenting Views