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Medicare Monday: Resources for understanding Medicare Part B and D

Andrew Powaleny   |     September 7, 2015   |   SHARE THIS

MedMon_Catalyst_BannerEarlier this summer, PhRMA released its new chart pack on biopharmaceuticals in government programs. It serves as a great resource for key facts and figures about major government programs, including prescription drug coverage in Medicare Parts B and Part D.

Medicare insures many of the nation’s retirees and people living with disabilities. Coverage of medicines for Medicare beneficiaries occurs primarily though Part D and Part B. Payments for medicines in Medicare Part D are negotiated by competing private health plans. Payments for medicines under Part B, which are generally injected or infused by a physician, are based on the average of prices negotiated by doctors and other purchasers. We’ve already covered some of the resources in our posts on generic utilization and Part B settings.

Check out the full chart pack here: http://www.phrma.org/gov-chartpack-2015

Below are a few of the resources included in the chart pack:

Medicare Covers Two Benefits
Medicare’s retail pharmacy benefit is called Part D, and Medicare’s medical benefit is called Part B.
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Part D Implementation Improved Enrollees’ Access to Medicine and Reduced Out-of-Pocket Costs
Peer reviewed and academic literature confirms Medicare Part D substantially reduced out-of-pocket costs and increased access to medicines for seniors.

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Part D Implementation Tied to Reductions in Hospital Admissions
Researchers found that gaining Medicare Part D prescription drug coverage was tied to an 8 percent decrease in hospital admissions for seniors overall, with higher reductions for certain conditions.

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Part B Medicines Represent Significant Medical Advances

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To learn more about the Medicare program, take a look at our continuing Medicare Monday series and share your thoughts on social media using the hashtag #MedicareMonday. Have questions about what Medicare covers? Visit Medicare.gov.
Andrew Powaleny

Andrew Powaleny Andrew Powaleny is Director of Public Affairs at PhRMA. Before joining PhRMA in 2015, he worked at the House Energy and Commerce Committee and later as a communications consultant. Andrew came to Washington, D.C. via Connecticut and proudly sings with the Gay Men’s Chorus of Washington, runs with the DC Front Runners and serves on the Alumni Council for The Fund for American Studies. He is also a member of the National Lesbian Gay Journalists Association and the proud father of his poodle-beagle mix Molly.

Topics: Part D, Medicare, out of pocket costs, Medicare Monday, Part B

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