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A PhRMA-sponsored study claims Medicare Part D reduced expenses for beneficiaries who had no insurance prior to the program.
A study sponsored by PhRMA claims that the Medicare Part D program lowered out-of-pocket expenses for beneficiaries who had no insurance prior to the program. The study was conducted by The Amundsen Group and is based on prescription data provided by Verispan. It compared the estimated out-of-pocket expenses for 2005, the year prior to the initiation of the Medicare Part D program, with drug expenses under the program. According to the study, the number of prescriptions filled each month for each beneficiary rose from 1.7 in 2005 to 3.3 in 2006, while the total monthly out-of-pocket expense fell 45%.