Medicare Part D drug prices increase at annual rate of almost 14%

Prices for 10 of the most prescribed brand-name medications have shot up an average of 6.8% since December under Medicare private insurance plans, while wholesale prices for the same drugs have only risen 3%. For example, the cost of a month’s supply of cholesterol-controlling Lipitor had climbed 9.6% percent. Premiums for Medicare drug plans have jumped 13 percent over the past year.

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