It Pays to Shop: Variation in Out-of-Pocket Costs for Medicare Part D Enrollees in 2016

(By –   Jack Hoadley, Juliette Cubanski, and Tricia Neuman; Kaiser Family Foundation

Medicare Part D drug plans differ considerably in the drugs they list on their formularies, their use of formulary tiers, and the level and structure of cost sharing applied to those tiers. Plan premiums and the use of deductibles also vary widely. Plan decisions affect different beneficiaries in different ways, depending on the drugs they use. The financial consequences for Part D plan enrollees can be substantial. In this brief, we focus on out-of-pocket drug costs for Part D enrollees in 2016 for specialty, brand, and generic drugs. Read more…

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