Celebrating Pork: The Dubious Success of the Medicare Drug Benefit Health Insurance for the Elderly
AbstractProjected costs for Medicare Part D have been revised downward, causing some analysts to claim that the program has proven itself a success. This report explores the factors behind the lower cost projections and reaches far different conclusions. It finds two main reasons: 1) a slowdown in the rate of growth in drug prices that preceded the introduction of the benefit; and 2) fewer people are expected to enroll in the program. The report recommends changes to the program that could save $30 billion a year.
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Bibliographic InfoPaper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2007-08.
Date of creation: Mar 2007
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Find related papers by JEL classification:
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
- H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-09 (All new papers)
- NEP-IAS-2007-04-09 (Insurance Economics)
- NEP-PBE-2007-04-09 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dean Baker, 2007. "Stagnation in the Drug Development Process: Are Patents the Problem?," CEPR Reports and Issue Briefs 2007-07, Center for Economic and Policy Research (CEPR).
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