Expensive Specialty Drugs Are Driving Increased Spending By Insurers, Study Finds
Researchers see the trend as a foreshadow of what's to come as more and more high-priced treatments are released onto the market.
The Associated Press:
Study: Insurers' Spending On Costly Meds Soared From 2003-14
The latest study of medicine prices finds U.S. insurers' spending on expensive prescription drugs nearly quadrupled from 2003 through 2014, when the number of such prescriptions filled tripled. Spending on expensive "specialty" drugs by commercial insurance plans jumped from 11 percent of spending on all prescriptions filled in 2003 to 43 percent in 2014, according to the study, published Wednesday by the journal Health Affairs. Meanwhile, the number of prescriptions for specialty drugs rose from 0.6 percent of prescriptions filled in 2003 to 1.8 percent in 2014. (7/6)
The Associated Press:
What Costliest Drugs Cost Commercial Insurance Plans In 2014
A new study from the University of North Carolina-Chapel Hill examining usage of and spending for specialty prescription drugs by commercial insurance plans finds huge spikes from 2003 through 2014. During that stretch, drugmakers launched more and more high-priced drugs, many of them big scientific advances, and raised their prices for existing drugs at least once a year. Here's a look at eight drugs with the highest monthly cost to commercial insurance plans in 2014. (7/6)
Meanwhile, a study says Medicare should embrace generics and new research finds savings could come from an unexpected source —
Kaiser Health News:
Study: Brand-Name Drugs’ High Copays Soak Medicare Part D Patients
A new study takes a fresh measure of generic drugs’ price advantages, revealing how much more Medicare Part D patients shelled out in copayments for two popular brand-name drugs in 2013. The result: 10.5 times more. Copayments averaged $42 for both Crestor, a cholesterol medication, and Nexium, taken for acid reflux, according to researchers whose study was published Wednesday in Health Affairs. (Bluth, 7/6)
Kaiser Health News:
Medical Marijuana Linked To Modest Budget Benefits For Medicare Part D, Study Finds
Prescription drug prices are up, making policy experts increasingly anxious. But relief could come from a surprising source. Just ask Cheech and Chong. New research published Wednesday found that states that legalized medical marijuana — which is sometimes recommended for symptoms like chronic pain, anxiety or depression — saw declines in the number of Medicare prescriptions for drugs used to treat those conditions and a dip in spending by Medicare Part D, which covers the cost on prescription medications. (Luthra, 7/6)