Medicare Pays for 1/3 of U.S. Prescription
The majority of Medicare voluminous prescription drug spending is for drugs covered under Part D, although Part B also covers medicine; this spending accounts for 30 percent of national retail spending on drugs, and nearly $1 out of every $5 in total Medicare spending.
Prescription drugs are an important component of health care for Medicare beneficiaries, which includes more than 60 million older adults and people with long-term disabilities.
The majority of Medicare prescription drug spending is for drugs covered under Part D, the outpatient prescription drug benefit. Medicare Part B also covers drugs that are administered to patients in physician offices and other outpatient settings.
A majority of Americans favors allowing the federal government to negotiate prescription drug prices on behalf of Part D beneficiaries; the practice is prohibited under current law.
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