A prescription for lowering Medicare Part D costs
Ordering prescriptiondrugs by mail rather than at a store pharmacy could save the nation’sinsurance program for the elderly and disabled up to $86 billion over10 years, a study released on Tuesday found.
The study, released by thePharmaceutical Care Management Association (PCMA), also founddrugs-by-mail are 10 percent cheaper than those bought at retailoutlets.
Lower overheard costs, bulkpurchasing and fewer dispensing errors help keep mail order priceslower, according to the study conducted by health care research firmThe Lewin Group.
A mail-order pharmacy can fill a prescription for about $2.50 compared with about $5 for retail, it said.
PCMA said the difference could helpMedicare save money as it implements its controversial new prescriptiondrug benefit for 2006.
Bush administration officials nowestimate the benefit, required by law, will cost $724 billion by theyear 2014. Earlier estimates said it would cost $400 billion over 10years.
The rising price tag has sparked anoutcry from Democrats and Republicans alike. Some critics want to amendthe law to give Medicare officials power to negotiate prices, but U.S.President George W. Bush has said he would veto such a change.
Ed.: Taxpayers should be incensed that the President would veto a bill to allow Medicare to negotiate for lower drug prices. Why would he do such a thing?