Medicare Part B Drugs: Trends in Spending and Utilization, 2008-2021

Excerpt:  “Over the 2008-2021 period, Medicare fee-for-service (FFS) Part B drug spending per enrollee grew on average at 9.2 percent annually. This spending growth was more than triple the rate in Part D (2.6 percent) and nearly 4 times as high as the rate of per capita annual prescription drug spending across all payers (2.4 percent). The Inflation Reduction Act (IRA) includes several new provisions designed to address the rapid rate of increase in Part B drug spending and lower costs for Medicare enrollees.” (footnote omitted)