Celebrating Pork: The Dubious Success of the Medicare Drug Benefit Health Insurance for the Elderly
Projected 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.
|Date of creation:||Mar 2007|
|Date of revision:|
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- 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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