Medicare announced the average basic premium for a Medicare Part D prescription drug plan in 2017 is expected to remain “relatively stable” at an estimated $34 per month – an approximate $1.50 increase over the average premium in 2016.
“Stable Medicare prescription drug plan premiums help seniors and people with disabilities afford their prescription drugs,” said Andy Slavitt, acting administrator of the Centers for Medicare & Medicaid Services. “However, I remain increasingly concerned about the rising cost of drugs, especially high-cost specialty drugs, and the impact of these costs on the Medicare program.”
Medicare Part D expenditures per enrollee are estimated to rise by an average 5.8 percent annually through 2025, according to a 2016 Medicare Trustees report.
According to a 2013 National Health Interview Survey by the U.S. Centers for Disease Control and Prevention, nearly 8 percent of U.S. adults didn’t take their medication as prescribed to save money, about 15 percent asked their doctor for a lower-cost medication, just over 4 percent chose an alternative therapy and 1.6 percent purchased prescriptions outside the United States.
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