How To Cut Medicare Costs: Part Dby Denise Early on Apr. 17, 2011, under Health
In 2008, Medicare spent $68.3 billion dollars on drugs purchased through Part D plans. This is too much money! Seventy-five percent of the $68.3 billion was spent on brand name drugs like Lipitor, Plavix, and Nexium.
Generics used to treat high cholesterol cost less than $10, while brand drugs cost $100 or more. Although most people on Medicare use generics, the chart below shows how the higher cost of brand drugs overwhelms the Part D budget. If everyone used generics, the Medicare Part D budget could be cut by billions of dollars.
In 2008 Medicare spent $68.3 billion
on drugs purchased through Part D.
Lipitor is going generic soon. Fosamax now has a generic replacement, so Part D plans are not covering this drug for treating osteoporosis. I learned this when I was searching for a Part D drug plan for a client and discovered that Fosamax was not on any plans’ formularies (list of drugs covered).
See my recent post on the top ten drugs purchased through Part D.
FOR MORE INFORMATION ON YOUR MEDICARE CHOICES SEE ARIZONAMEDICARENEWS.COM