Celebrating Pork: The Dubious Success of the Medicare Drug Benefit Health Insurance for the Elderly

Dean Baker

CEPR Reports and Issue Briefs from Center for Economic and Policy Research (CEPR)

Abstract: Projected costs for Medicare Part D have been revised downward, causing some analysts to claim that the program has proven itself a success. This report explores the factors behind the lower cost projections and reaches far different conclusions. It finds two main reasons: 1) a slowdown in the rate of growth in drug prices that preceded the introduction of the benefit; and 2) fewer people are expected to enroll in the program. The report recommends changes to the program that could save $30 billion a year.

JEL-codes: H21 H51 I18 L12 (search for similar items in EconPapers)
Date: 2007-03
New Economics Papers: this item is included in nep-ias and nep-pbe
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Persistent link: https://EconPapers.repec.org/RePEc:epo:papers:2007-08

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