US spending on Medicare Part D catastrophic coverage triples in 5 yrs, reaching $33B in 2015

Spending on drugs costing more than $1,000 monthly has increased significantly over the past five years, a HHS Inspector General report found, according to The Wall Street Journal.

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Here are four things to know:

1. Spending on Medicare Part D catastrophic coverage exceeded $33 billion in 2015, which is more than three times the amount paid in 2010. This coverage pays 80 percent of the drug costs after a beneficiary has spent a certain amount annually.

2. Harvoni was the most pricy drug in 2015, with the hepatitis C treatment costing $33,800 monthly.

3. In 2014, estimates say overall drug spending increased 12.6 percent.

4. A Kaiser Family Foundation poll in October 2016 found 74 percent of respondents said the new president should prioritize controlling drug prices.

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