Medicare spending on new hepatitis C virus (HCV) treatments is expected to surpass $9 billion by the end of 2015, a cost that is likely to raise insurance rates for all beneficiaries under the program, whether they have liver disease or not, The Associated Press reports.
Specifically, new government figures estimate that Medicare’s Part D prescription drug program is on track to spend $9.2 billion on hep C drugs this year—nearly 7 percent of total spending under the program, and almost double what was spent on the disease in 2014.
Perhaps as a result, all Medicare beneficiaries should expect higher premiums and deductibles on their health insurance plans in 2016, which analysts say could be up to a $40 price hike from last year’s standard rate.
To help mitigate these impending costs, the U.S. Department of Health and Human Services is hosting a public forum later this month to discuss new options for pharmaceutical research funding. The goal is to work out a plan that will ensure rewards for future drug development, while at the same time keeping the price of new treatments low.
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