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Study: Medicare Part D no match for runaway specialty drug costs

from Reuters

When Medicare prescription drug insurance was created in 2003, the idea that beneficiaries with very high drug costs should pick up five percent of the tab seemed reasonable — but that was well before specialty drugs were invented that carry price tags in the tens of thousands of dollars. Today, the five percent coinsurance charge shouldered by Medicare Part D beneficiaries with serious illnesses does not look so reasonable. Instead, sky-high prices of specialty drugs threaten to bankrupt some enrollees — mainly because Part D does not cap the total amounts that enrollees must pay out of pocket each year. more

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