The Medicare Board of Trustees released their annual report for Medicare’s two separate trust funds and their findings revealed that Part D drug spending projections are lower than in last year’s report. Higher manufacturer rebates, a decline in spending for Hepatitis C drugs, and a slowdown in spending growth for diabetes drugs was reported the main reason for this good news.
The report also found that the Trust Fund will be able to pay full benefits until 2026, which is three years earlier than last year’s projections, attributable to adverse changes in program income. The Trustees project that total Medicare costs will grow from approximately 3.7 percent of GDP in 2017 to 5.8 percent of GDP by 2038, and then increase gradually thereafter to about 6.2 percent of GDP by 2092.
For the full report, click the image & you’ll be directed to the CMS release.
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