Medicare Drug Plan Prices are Increasing Rapidly

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Serial Number
Levin Center Identifier
Document Date
2006-02-21
Report Length
11 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Found Using Methodology
Yes
Commission(s)
Idependent Author(s)
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 Drugstore.com prices, indicating potential challenges in delivering cost savings to seniors and taxpayers as promised.
Press Releases and Contextual Information
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)
Authors–Congress Members
Authors–Staff Members
Authors–Ex Officio Members
Authors–Additional, Minority, Dissenting Views
Citation