CBO: Medicare Part D Spending Reached $50B in FY 2013

Federal spending on Medicare Part D totaled $50 billion in fiscal year 2013, far lower than original estimates in 2003 that projected the program would cost $99 billion by FY 13, according to a new report from the Congressional Budget Office. According to the report, the lower spending is linked to a slow 2% annual growth rate in per capita prescription drug spending.

• "Generic Drugs, Low Enrollment Dampened Medicare Part D Spending: CBO"  (Herman, Modern Healthcare, 7/30).