The brief provides a quick explainer of the prescription drug provisions in legislative text released by the Senate Finance Committee to be included in a forthcoming reconciliation bill and presents new estimates on how many Medicare beneficiaries could be helped by those provisions.
Analysis Finds That a Relatively Small Number of Drugs Account for the Majority of Medicare Prescription Drug Spending
Amid heightened public concern, the cost of prescription drugs is a focus of attention by the Biden administration and lawmakers in Congress and state capitals. Proposed actions range from allowing Medicare to negotiate the prices of certain drugs to limiting some drug price increases to inflation and capping out of pocket costs for Medicare beneficiaries in Part D, among other initiatives. See KFF’s research, analysis and public opinion data, as well as Kaiser Health News’ journalism, related to prescription drugs and their costs.
Featured Prescription Drugs Resources
Related Prescription Drugs Resources
- Prices Increased Faster Than Inflation for Half of all Drugs Covered by Medicare in 2020
- Out-of-pocket spending on insulin among people with private insurance
- How Do Prescription Drug Costs in the United States Compare to Other Countries?
- Public Opinion on Prescription Drugs and Their Prices
- Insulin Costs and Coverage in Medicare Part D
- Dec. 8 Event: Unpacking the Prescription Drug Provisions of the Build Back Better Act
- The Public Weighs In On Medicare Drug Negotiations
- Potential Savings for Medicare Part D Enrollees Under Proposals to Add a Hard Cap on Out-of-Pocket Spending
- Medicare Part B Drugs: Cost Implications for Beneficiaries in Traditional Medicare and Medicare Advantage
- 10 FAQs on Prescription Drug Importation
- Medicaid Outpatient Prescription Drug Trends During the COVID-19 Pandemic
- Prescription Drug Rebates, Explained
Addressing the cost of insulin continues to be at the forefront of policy discussions around prescription drugs. This analysis describes out-of-pocket spending on insulin products by Medicare beneficiaries enrolled in Part D drug plans, along with state-level use and spending data.