Medicare prescription drug prices

Medicare Pays Far More Than Medicaid for Brand-Name Drugs

Medicare pays three times as much for brand-name drugs at retail pharmacies as Medicaid and two-and-a-half times more for specialty drugs, according to a new analysis by the Congressional Budget Office. The vast difference occurs because of how drug prices are established for the two programs. Under Medicare Part D, individual payers and manufacturers negotiate prices based on commercial market conditions while for Medicaid, federal law requires manufacturers to provide rebates. Learn more about the differences between Medicare and Medicaid prescription drug prices, how and why those differences occur, and their implications in the CBO report “A Comparison of Brand-Name [...]

admin2021-02-26T06:00:54+00:00February 26, 2021|Medicaid, Medicare|

Lowering Prescription Drug Costs

Shifting Medicare Part B drug coverage into Medicare Part D. Reducing Medicare Part D co-pays for generic drugs. Increasing the number of pharmacy benefit managers. Establishing expedited review for new versions of brand-name drugs. Tying U.S. drug prices to prices paid for the same drugs in other countries. Using U.S. trade policies to compel other countries to pay more for American pharmaceutical products. These are among the ideas presented in a new report by the White House Council of Economic Advisers detailing steps that might be taken to reduce prescription drug prices in the U.S. To learn more about these [...]

admin2018-02-12T10:45:34+00:00February 12, 2018|Medicare|