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Medicare Part D less expensive than projected

Case Management Weekly, February 8, 2006

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The net cost to the federal government of the Medicare prescription drug benefit in 2006 is projected to be $30.5 billion, 20% less than the government's previous estimate of $38.1 billion, CMS Administrator Mark McClellan said last week at a hearing. The estimated cost of the program from 2006 to 2015 is projected to be $678 billion, an 8% decrease from a previous estimate of $737 billion.

In addition, McClellan said the average monthly premium for beneficiaries is now estimated to be about $25, compared to a previous estimate that priced the cost at $32.20 per month.  CMS attributes the decreased prices to drug plans offering lower premiums and beneficiaries carefully selecting plans that offer them the best deal.

McClellan also said paperwork would be available this week for states to apply to the federal government for reimbursement for expenses they incurred by providing medications to beneficiaries who are eligible for both Medicaid and Medicare

Source: California Healthline

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