Federal government spending for Medicare Part D catastrophic coverage soared in recent years, largely thanks to fast-rising prices for expensive specialty drugs used to combat hepatitis C, cancer, and multiple sclerosis, according to a new report from the Department of Health and Human Services.
Specifically, the Part D plan paid $33.2 billion in 2015, up 208 percent from $10.8 billion in 2010, for pricey specialty medicines that are needed by beneficiaries once they left the so-called donut hole. This term refers to the moment when their annual out-of-pocket costs exceed a certain threshold, which was $4,700 in 2015. At that point, prescription drug coverage is called catastrophic coverage.
This is outrageous. Amazing how crooked the pharmaceutical companies are and get away with it. Something has to be done.
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