Study Finds Medicare Part D Less Costly Than Projected
The Medicare Part D prescription drug benefit has cost much less than anticipated when the program was enacted five years ago, according to a new Medicare trustees report. Medicare's drug program originally was projected to cost $111.2 billion annually when implemented in 2006, but the report found that the benefit in 2009 cost the federal government $60.8 billion. Experts attribute the lower costs to a slowing demand for prescription drugs, greater use of generics and fewer people signing up for the benefit.
- "Bush Drug Plan Beats Cost Mark" (Dinan, Washington Times, 8/16).