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New Medicare Drug Plans Fail to Provide Meaningful Drug Price Discounts
House Committee on Government Reform Special Investigations Division
House Committee on Government Reform
Special Investigations Division
Abstract
The Special Investigations Division of the House Committee on Government Reform examines a new prescription drug benefit being offered through the Medicare Part D during the Bush Administration. The analysis compares drug prices offered by ten leading Medicare drug plans with four benchmarks: federal government-negotiated prices, drug prices in Canada, Drugstore.com prices, and Costco prices. The report concludes that the Medicare drug benefit has not succeeded in reducing drug prices. On average, the drug prices offered by the Medicare drug plans are over 80% higher than federal government-negotiated prices, over 60% higher than prices in Canada, over 3% higher than Drugstore.com prices, and almost 3% higher than Costco prices.
Date
2005-11-22
Document Type
House Minority Staff Report
Serial Number
Document Length
14 pages
Congress
109
Relation
DOI
Keywords
Staff Reports
PAP Major Code
3: Health
PAP Minor Code
335: Prescription Drug Coverage and Costs
Related Hearings
Senate Committee on Finance, hearing on "Implementing the Medicare Prescription Drug Benefit and Medicare Advantage Program: Perspectives on the Proposed Rules," 108th Cong., (2004, September 14)