In 2015, brand-name specialty drugs accounted for about 30 percent of net spending on prescription drugs under Medicare Part D and Medicaid, but they accounted for only about 1 percent of all prescriptions dispensed in each program.
If current laws remain generally unchanged, CBO projects, federal budget deficits and debt would increase over the next 30 years—reaching the highest level of debt relative to GDP in the nation’s history by far.
CBO presents new estimates of the budgetary effects of options for a premium support system for Medicare and examines the reasons for the changes in the estimates, including changes in law that have affected the Medicare program.
If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years—reaching the highest level of debt relative to GDP ever experienced in this country.
Why has Medicare's prescription drug program cost less than anticipated when the program was created? How has competition between plan sponsors affected spending? How do Medicare Part D drug prices compare to those in Medicaid?