Why does everyone bash part D? To my knowledge it's the only government program that has ever come in under the projected cost.
Medicare Part D Under Budget
According to the Centers for Medicare and Medicaid Services (CMS), the total costs for the Medicare Part D prescription drug program based on actuary estimates will be $37.2 billion in 2008 and $46.4 billion in 2009. When the drug benefit was being debated in Congress, however, the actuary estimated the benefit would cost $68 billion in 2008 and $74 billion in 2009. Based on these estimates,
Medicare Part D is currently operating at 37-45% under initial projections.Further, officials at CMS report that monthly premiums for Medicare prescription drug plans will average $28 in 2009 – a 37% decrease from $44.12 when the benefit was created in 2003 –
translating into significant savings for the Federal government as well as beneficiaries.
DRX Trends: Medicare Part D Under Budget