US Part D Rx drug cost lower than forecast
The US Medicare Part D prescription drug benefit for seniors has once again come under budget, according to figures released by the federal government for the year ending September 30. Spending fell 12% to about $44.0 billion in the 12-month period, making the total underspend by the program since its January 2006 launch about $50.0 billion, or about one third below the Congressional Budget Office's predictions and better than many actuarial projections (Marketletters passim).
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