Analysis of Medicare Part D Plans Shows $9B Upcharge
The Wall Street Journal investigates the Medicare Part D system in article published today. From 2006-2015, insurers retained $9.1 billion in excess taxpayer funds as a result of consistent overestimates in bids to The Centers for Medicare and Medicaid (CMS). “If those big insurers were aiming to submit accurate bids, the probability that they would have overestimated costs so frequently and by such a large amount is less than one in one million, according to a statistical analysis done for the Journal by researchers at Memorial Sloan Kettering Cancer Center, who study pharmaceutical pricing and reimbursement.”
Read full article here.