CMS: Part D Costs $117 Billion Lower Than Expected

Friday, February 1, 2008 General News
Email Print This Page Comment
Font : A-A+

Separate Research Confirms Part D Seniors Also Enjoy Broad Choice of Prescription Drugs



WASHINGTON, Jan. 31 /PRNewswire-USNewswire/ -- The Pharmaceutical Care Management Association (PCMA) issued the following statement on new budget figures that report the cost of the Medicare drug benefit is lower over the next ten years than was estimated last summer:



"Part D plans are saving money without sacrificing beneficiaries' choice of prescription drugs. New budget documents show that the overall projected cost of the drug benefit is $117 billion lower than earlier estimates, while a separate analysis released today from the Kaiser Family Foundation finds that overall formulary coverage has remained stable among Part D plans.



"Specifically, Kaiser found across all national Medicare prescription drug plans:



-- An average of 98 percent of generic drugs analyzed are covered in 2008; and



-- An average of 73 percent of brand name drugs analyzed are covered, with those still under patent more likely to be included on plan formularies."



PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for more than 210 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D.



SOURCE Pharmaceutical Care Management Association


Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store

Facebook