Part D drug consolidation could save Medicare $150 million, CMS finds
Consolidating drugs covered by Medicare Part B and Part D under Part D could save Medicare nearly $150 million, according to a new report from the Centers for Medicare & Medicaid Services.
By contrast, the report found that consolidating drugs under Medicare Part B could increase Medicare spending by $52 million.
Though the vast majority of drugs for seniors are covered under the Medicare Part D program, there are still some drugs covered through Part B. These drugs include injectable insulin, certain vaccines—including for influenza—and drugs dispensed by nebulizer.
While the consolidation under Medicare Part D could save the program money, it would adversely impact Medicare beneficiaries in the pocketbook, the report found. Because Part D has “less generous coverage rules,” switching the coverage of drugs from Part B to Part D would cost beneficiaries roughly $267 in added out-of-pocket expenses.