Celebrating Pork: The Dubious Success of the Medicare Drug Benefit
Contributing Organization(s): Center for Economic and Policy Research
Author(s)/Creator(s): Dean Baker
Publishing Date: 2007-03-01
Issue Areas: Welfare and Public Assistance
Ownership/Rights Info: Please consult the copyright holder before using or repurposing this information.
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.
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