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Posted at 1 p.m. on Aug. 1, 2014
The Department of Health and Human Services has announced a slight increase in the Medicare Part D program’s premiums for next year. The prescription drug benefit, first implemented in 2006, now offers drug coverage to 39 million people.
Also, the Congressional Budget Office this week offered another illustration of changing long-term health care cost estimates and has adjusted its outlook on spending on the Part D program.
The congressional budget scorekeeper noted that several trends in the drug market has contributed to lower spending, which are substantially less than initial estimates provided to Congress in 2003 when the program was established. The CBO noted two major drug market developments contributing to the slowing of price increases: