These drugs, which were responsible for nearly $50 billion in total Medicare Part D spending in 2022, are used by over 7 million enrollees.
The report highlights a trend of drug prices consistently rising at a rate exceeding general inflation. Medicare Part D enrollees, who typically take multiple prescriptions each month, are particularly affected by the increases, with 1 in 5 reporting that they have had to skip doses or forgo filling prescriptions altogether.
The report also estimated that price hikes since the top 25 drugs were first introduced are responsible for more than 40% of current list prices.
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