Medicare Drug Costs Soar Over 5-Year Period

According to the Medicare Payment Advisory Committee, the amount spent on Medicare drugs dispensed at pharmacies increased 26 percent from 2013 through 2018. The Medicare Payment Advisory Commission (MedPAC) is an independent congressional agency established by the Balanced Budget Act of 1997 to advise the U.S. Congress on issues affecting the Medicare program. In addition to advising the Congress on payments to health plans participating in the Medicare Advantage program and providers in Medicare’s traditional fee-for-service program, MedPAC is also tasked with analyzing access to care, quality of care and other issues affecting Medicare. Read the report.