13 August 2018 - Premiums have risen very little in the years since Medicare Part D was introduced. But the same cannot be said of the burden on taxpayers.

At a glance, Medicare’s prescription drug program — also called Medicare Part D — looks like the perfect example of a successful public-private partnership.

Drug benefits are entirely provided by private insurance plans, with generous government subsidies. There are lots of plans to choose from. It’s a wildly popular voluntary program, with 73% of Medicare beneficiaries participating. Premiums have exhibited little to no growth since the program’s inception in 2006.

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