CMS: Part D drug costs up 17% in 2014
Prescription drug claims for the 38 million beneficiaries in Medicare Advantage and stand-alone prescription drug plans rose by 3.3% in 2014, while drug costs for the program rose by 17% to $121 billion, according to data released today by the Centers for Medicare & Medicaid Services. Total annual costs for each of the 10 most costly Part D drugs ranged from $1.6 billion to $3.1 billion. The top 10 drugs by cost were all brand name drugs, while the top 10 drugs by use were all generics. For more information, see the CMS factsheet.
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