What imbalance exists in prescription drug spending, and how has it impacted overall costs?
In 2025, Medicare eliminated the Part D Coverage Gap (a.k.a. Donut Hole). This now limits the consumer from spending over $2000 on all covered prescription drugs. However, not all plans may cover all of your medications, so ensure you verify Part D plan options in your zip code at www.Medicare.Gov.
Answered by Christopher Boyd on March 4, 2025
Agent Licensed in IN, KY, MI, OH, PA & TN
Prescription drug costs are too high. Max out of pocket yearly will help a great deal though. Going from over $5000 to $2000 max
Answered by Martin Cahill on March 4, 2025
Agent Licensed in MA, CT, FL & 5 other states
A recent report highlighted a stark imbalance where generic drugs, despite being 91.5% of prescriptions, only represent 12.9% of the drug spending, while brand-name drugs, at 8.5%, account for 87.1% of costs. This disparity contributed to an 11.4% increase in drug spending, reaching $450 billion, primarily due to rising costs for treatments of diabetes and obesity.
Answered by Brian Moore on February 16, 2025
Broker Licensed in OH
