MedPAC Offers Proposals To Address ‘Unsustainable’ Drug Costs, But Congressional Action Unlikely
The Medicare Payment Advisory Commission plan would, among other things, set an annual limit on how much seniors can be required to pay for medications, a new safeguard. But in a contentious election year, the proposal is not likely to gain any traction in the legislature.
The Associated Press:
Spiraling Drug Costs Prompt Call For Major Medicare Changes
Calling the rising cost of drugs "unsustainable," congressional advisers on Wednesday recommended major changes to Medicare's popular outpatient prescription program, now 10 years old.The proposal from the nonpartisan Medicare Payment Advisory Commission, or MedPAC, steers clear of calling for the government to negotiate drug prices directly, an option both presidential candidates advocate. For beneficiaries, the plan is a mixed bag. All seniors would get better protection from extremely high costs, but some may have to spend more. (6/15)
Kaiser Health News:
Advisory Panel Targets Rising Medicare Drug Costs In Its Latest Report To Congress
Congress should move to slow spending in Medicare’s drug benefit by adopting a package of changes that could save billions, but would also add costs to insurers and have mixed effects on enrollees, an independent advisory commission said Wednesday. In its June report to Congress, the Medicare Payment Advisory Commission warned that rising drug costs and other factors have helped drive Medicare Part D spending up nearly 60 percent from 2007 to 2014. The commission recommends an interrelated set of proposals it estimates could save at least $10 billion over five years, partly by encouraging more use of generic drugs and also by creating incentives for insurers to negotiate better prices from drug makers." (Appleby, 6/16)
In other Medicare news —
Detroit Free Press:
Letter Announcing Medicare Cuts Was A Mistake
About 15,000 low-income seniors in Michigan have received a letter erroneously informing them that the state would no longer pay for their Medicare Part B coverage. (Wisely, 6/15)
Bloomberg:
Medicare Incentive Program Too Complex, Advisors Say
Medicare's proposed new physician payment system is too complex for many doctors to understand, particularly the technology requirements, federal health IT advisors said recently. (Ruoff 6/15)
