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- 7 Million Californians to Benefit from State-Run Retirement Plan
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- 200,000 Doctors are Turning Away New Medicare Patients
- Doctors Warn Patients About Upcoming Medicare Changes
- The Mystery of Medicare
- Medicare Cost Plans vs. Medicare Advantage
- Shopping for Medicare Last Minute
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- Medicare Help: Get Help Choosing a Hospital
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- How Medicare Online Works for Medicare Beneficiaries
- Medicare Part A Costs
- When to buy Medigap Insurance
- The Latest in the Battle for Prescription Drug Coverage
- Don’t Miss These Medicare Deadlines
- 4 Tips for Protecting Your Retirement Savings
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- The Ultimate Retirement Checklist
- Health Care to Cost $10K Per Person
- 8 Things Seniors Should Know About Hospice Care
- Do seniors know enough about their Medicare choices?
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- Medicare Penalized for Being Too Careful
- Paul Ryan’s Plan to Make Medicare a Voucher Program
- Thrown Away: $3 Billion in Cancer Drug Spending Wasted
- How Seniors are Winning with Home Care
- Medicare Facts - Are Injections Better Than Eye Drops for Addressing Cataracts
- 3 Things You Don’t Know About Medicare But Should
- Americans Want Medicare to Cover Obesity Treatments
- Best Places to Retire with Affordable Healthcare
- Medicare to Test New Drug Pricing for Doctors and Hospitals
- Retirement – 5 Websites Made for Retirees
- Medicare Home Health Agencies
- Medicare Part B Costs And Coverage 2016
- Medicare Advantage is Changing in 2016 – Are you Ready?
- Choosing a Home Health Agency
- Medicare Part D Costs and Coverage 2016
- DIY Guide to Medicare Shopping
- Should Medicare Cover Genetic Sequencing?
- CMS Bars Cigna from Enrolling New Medicare Members
- Is Medicare for All an Achievable Goal?
- Trump – Medicare Should Negotiate Drug Prices
- A Guide to Medicare Part A
- 5 Things You Didnt Know About Medicare
- Medicare News: A Look Back at Medicare Changes in 2015
- Hospital Prices Vary Across U.S.
- Five Ways You’re Wasting Your Retirement Money
- Government Targeting Remaining Uninsured
- Retirement Benefits Set to Change in 2015
- Medicare Costs: These 5 Screenings will Help You Keep Medicare Costs Down
- Medicare Spending: New way to explore Medicare prescription-drug spending
- Infections & Mistakes - Medicare Penalizes South Florida Hospitals
- Three Changes Coming to Medicare in 2016
- Quit Smoking with Help From Medicare
- Get Your Free Flu Shot Before It is Too Late
- Antibiotic Use: When Not to Take Antibiotics
- Medicare Premium Costs Are Not Going to Spike For Now
- A Migraine even without throbbing pain is a migraine
- Deciding on your best options according to your circumstances and needs
- Medicare Advantage Plans (Under part C)
- Medicare Prescription Drug plans (Part D)
- The things that Medicare doesn’t take care of
- Nurture your body by drinking plenty of water
- Avoid paying more for prescription drug coverage
- Dear Coffee lovers, Caffeine may actually be beneficial for you
- How does one select a primary care provider for oneself or a loved one?
- Know how traveling affects your Medicare plans
- Have Medicare costs been worrying you? The good news is, you may qualify for financial hel
- What should be done if I want to make a transition from Health Marketplace to Medicare
- The drawbacks of Medicare Advantage
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- Refining Medicare Advantage
- What are my expectations from a Medicare program?
- Medicare Additional/Supplemental Insurance Plans
- Working towards better American Health care- Medicare Advantage
- Managing out-of-pocket costs and paying for Medicare
- The basics of medicare and how it works
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Medicare Spending: New way to explore Medicare prescription-drug spending
A new online dashboard will make it easy for Medicare beneficiaries and policymakers to explore the financial burden that high-priced drugs place on the Medicare program and on the country’s seniors.
The dashboard will demonstrate overall spending in Medicare for each prescription drug listed, along with trends in its price and number of seniors who rely on it. This new information reveals the way in which pharmaceuticals are driving up drug spending and the factors behind such increases.
The winner for highest Medicare expenditures in 2014 is the hepatitis C drug Solvadi, which costs seniors $1,000 per pill. In 2014, about 33,000 Medicare beneficiaries took Solvadi costing $3.1 billion.
The second highest expenditures at nearly $2.6 billion goes to Nexium, the prescription drug that treats acid reflux in 1.4 million Medicare beneficiaries. Crestor, used to control cholesterol, and Abilify, prescribed for psychiatric and mood disorders ranked third and fourth costing $2 billion each.
The dashboard was created by Health and Human Services officials to address the public’s concern with increasing costs of medications. In the U.S., drug spending increased 12% last year, far more than the cost of other aspects of health-care.
The White House promoted the dashboard as an administrative effort, “to improve transparency in health-care spending” and noted that a similar online instrument for Medicaid prescription-drug costs would follow next year, according to an article in the Washington Post.
“While this new tool doesn’t answer all of the questions surrounding prescription drug spending, it is a jumping off point for further discussions regarding these important issues,” Jeanne Lambrew, deputy assistant to the president for health policy, wrote in a blog post.
Drugs made the list if they were among the top 15 of overall Medicare drug spending, had a high level of per-patient spending or had the largest price increases. These drugs account for $55 billion in Medicare spending in 2014, which is just two-fifths of the $140 billion that Medicare spent on pharmaceuticals.