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Medicare Part D Plans Raised Their Prices |
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Over the past five months, virtually all Medicare (Part D) plans raised their prices for the top drugs prescribed to seniors, according to a report issued today by the health consumer organization Families USA. The report, based on pricing data submitted by the plans to the federal government, contradicts the Bush Administration's assertions that the new Medicare drug program is effectively moderating rising drug costs. More than 92 percent of plans raised their prices for Aricept (10 mg), and 89 percent raised their prices for Plavix (75 mg), drugs used for Alzheimer's disease and stroke, respectively. "At the same time that the Bush Administration and congressional leaders are touting the effectiveness of the Medicare drug plans, those plans are quietly raising the prices that they charge," said Ron Pollack, Executive Director of Families USA. "As a result, seniors will pay more and more---as will America's taxpayers." During that time, the median price for the top 20 drugs rose by 3.7 percent. Three of the drugs, Celebrex (200 mg), Lipitor (10 mg), and Aricept (10 mg), rose by 6 percent or more. "When Congress prohibited Medicare from bargaining for cheaper drug prices, it created a huge windfall for the drug companies and unaffordable prices for America's seniors," said Pollack. "It is time to correct this and to establish an effective price negotiating system like the VA has achieved." For a copy of the report and to review the methodology, please visit our Web site at www.familiesusa.org.
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