Researchers Find Patients’ Annual Financial Burden Under Medicare Part D Is ‘Too Much Too Soon’
Medical advances have offered an increasing number of treatment options to patients with serious and chronic illnesses such as cancer, but these "specialty drugs" often come with a high price tag. A study released today by researchers at the
"Our study found that under current policy,
Unlike most commercial insurance plans, there is no annual maximum out-of-pocket spending limit under
The study, which examined 2012
Doshi and colleagues have previously published studies showing that patients who are responsible for high out-of-pocket costs for specialty drugs are less likely to initiate treatment and more likely to skip or stop treatment. "Difficulty affording prescriptions is associated with inconsistent adherence, which could lead to adverse outcomes down the line," Doshi said. "It's important that we help patients manage their monthly costs so they can get the medications they need."
The new study also examined how changes recently proposed by the
To address these high and variable monthly out-of-pocket costs, the authors outline relatively simple policy changes that would introduce both monthly and annual out-of-pocket spending limits, with the goal of providing consistency in monthly costs for their medications. "Energy companies already offer this sort of payment plan so that families aren't faced with unmanageable winter heating bills," Doshi said. "This approach is particularly important for many seniors who live on fixed incomes."
The authors also discuss the costs of their proposal. "The reality is that any proposed change needs to be financially sustainable," Doshi said. "We found that our suggested changes could be financed by an additional cost of only
Doshi presented the findings of the study at a Cost-Sharing Roundtable hosted by the
Co-authors of the study were
Funding for the study was provided by the
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