Medicare Part D coverage gap proposal would not reduce drug spending

Pharmaceutical manufacturers are asking Congress to reduce their contributions to the Medicare Part D program, a change that would boost beneficiary and taxpayer spending under the health insurance program for older Americans but not reduce total drug costs. Under Medicare Part D, which is administered by insurance plans that provide prescription drug benefits, the insured, the plan, manufacturers, and Medicare pay different amounts for medications in four sequential phases of coverage — starting with a deductible period and ending with catastrophic coverage.

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