I thought I would share an interesting MarketWatch article by Eleanor Raise that I read. It is regarding a proposed rule by the Centers for Medicare and Medicaid Services that would require Medicare prescription drug plans to pass along price concessions they get from pharmacies to consumers at the pharmacy counter.
A few things in their article that really caught my attention were:
- The rule change would trim Medicare beneficiaries’ costs by about $21.3 billion over 10 years, CMS estimates.1
- The price breaks, which Part D plan sponsors and pharmacy benefit managers recoup from pharmacies after the point of sale, have skyrocketed in recent years. Pharmacy price concessions jumped more than 107,000% between 2010 and 2020, to $9.5 billion, according to CMS. Currently, Medicare beneficiaries’ out-of-pocket drug costs are typically based on prices that don’t factor in those concessions—and that means they’re paying amounts that are “increasingly inflated relative to reality,” Ciaccia says.1
To read the entire article click on the web link below:
1. Source: MarketWatch article by Eleanor Laise
https://www.marketwatch.com/story/heres-one-way-washington-is-moving-to-slash-seniors-prescription-drug-costs-11642021957
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