COVERAGE: Private Plans To Blame for Part D's High Costs
A 'centrally administered' Medicare drug program could be more cost-efficient.Enlisting private insurers to provide Medicare drug coverage did more than confuse consumers--it also may have resulted in at least $332 billion in unnecessary Medicare drug costs and administrative expenses.An add-on benefit to the traditional Medicare program that the government or a designated health plan would administer is a more cost efficient approach, proposes the Center for Economic and Policy Research in a recent study. To illustrate CEPR's claim, the study uses data from the Congressional Budget Office and other sources to project the potential savings for a...
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