Expensive Medicare Part B Drugs
An article was recently published in Insurance News Week that enlightened us to the expenses that Medicare Part B Drugs are costing. In 2010, the 55 highest costing drugs covered under Medicare Part B cost over 16.9 billion dollars. This comes out to roughly 85% of all Medicare spending on Part B drugs. The 10 highest expenditure prescriptions cost 45% of all the Medicare Part B expenditures, according to the Government Accountability Office.
Medicare Part B Drugs
You are probably thinking right now, "I thought Medicare Part D covered prescriptions - Not Medicare Part B". Well you are correct in thinking that Medicare Part D covers prescriptions; however, Medicare Part B covers prescriptions administered by the doctors offices and clinics. That is why these drugs are so expensive. Medicare Part B drugs are not over the counter prescriptions. They can be any of the following:
- Drugs used with an item of durable medical equipment
- Some antigens
- Injectable osteoporosis drugs
- Blood clotting factors
- Injectable and infused drugs
- ESRD Drugs
- Parenteral and enteral nutrition - for people who can not absorb food by mouth.
- Flu Shots, Hepatitis shots, etc...
Medicare Part B Drug expenditures account for roughly 9% of all Medicare Part B spending. Drug costs covered by Medicare Part B range from $13 for influenza vaccines to approximately $217,000 for prescriptions used to treat hemophilia sufferers.
Medicare Part D Prescriptions
If you need help analyzing your prescriptions and making sure you have chosen the right Medicare Part D plan please contact MWG Senior Services at 877-759-5760.
We are committed to helping our clients find the best prescription plan on an annual basis. Also ask us about the new program which can help you save drastically on your prescriptions drugs. We have seen huge savings by many of our clients over the past 12 months - call us today.
Prescriptions at a pharmacy are covered under Medicare Part D.