Health Payer Intelligence April 9, 2024
Medicare and Medicare Advantage plans help lower drug costs for beneficiaries by establishing preferred pharmacy networks, promoting generic drug utilization, and working with PBMs.
Affordable access to prescription drugs is a necessity for managing chronic and acute conditions and staying healthy. However, as drug costs rise, both affordability and accessibility are dwindling.
Over 80 percent of surveyed adults said the cost of prescription drugs is unreasonable, according to 2023 KFF data. Younger individuals who made less money and took four or more medications were more likely to report difficulty with affording prescription drugs.
Prescription drug cost coverage varies depending on consumers’ health plans. For example, traditional Medicare beneficiaries with Part A and/or Part B insurance can join a Medicare drug...
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