Wednesday, September 30, 2015

Medicare Part D drug plan prices set to rise in 2016

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Promises designed to buy votes in the past will be broken as federal coffers dry up. Medicare Part D (MPD) was implemented in 2006 under the GW Administration to improve coverage for seniors 65+ and for people with disabilities. MPD, the largest federal program that covers 39.1 million people in 2013, accounts for roughly 7% of $993 billion drug market. Approximately 58% of MPD spending is paid to brand-name manufacturers. As Medicare drug plan prices rise next year, some but a lot, envision a similar outcome for much of Obamacare which the majority of Americans did not want. This will create plenty of finger-pointing and distrust.

Headline: Medicare drug plan prices set to rise in 2016, some by a lot

Seniors, get ready to dig deeper into your wallets, or to start shopping more.

More than 15 million people enrolled in the top 10 Medicare "Part D" prescription drug plans will face average premium hikes of 8 percent next year, according to a new analysis. Those top 10 plans account for more than 80 percent of enrollment in such drug plans, the Avalere Health consultancy found.


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