Researchers analyzed CMS’s cost data of all medications in 2013 under Medicare Part D.
Here are eight key findings from the study:
1. The top 10 most expensive drugs in Medicare Part D represented $19.8 billion in spending in 2013.
2. Nexium, prescribed to treat acid reflux, was the costliest name-brand drug at $2.5 billion.
3. Crestor, prescribed to treat cholesterol, also ranked as one of the costliest brand-name drugs at $2.3 billion, Kaiser Health News reported.
4. Copayments for Nexium and Crestor averaged $42, while their generic equivalents averaged $4.
5. In 2013 the top 10 drugs claimed in Medicare Part D were all generics, totaling $4.1 billion in expenses.
6. Seventy-six percent of drugs dispensed through Medicare Part D are generics, according to the report.
7. Government, patients and payers could have saved a combined $870 million in 2013 by prescribing generics over Nexium and Crestor.
8. Medicare Part D beneficiaries fill an average of three or more prescriptions a month, and half of enrollees had an income of less than $22,500 in 2012, Kaiser Health News reported.
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