Prescription Drug Spending in the U.S. Health Care System: An Actuarial Perspective
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Prescription Drug Spending in the U.S. Health Care System: An Actuarial Perspective
March 9, 2018
122 Cannon House Office Building
2 to 3 p.m. EST
Health care spending in the United States is high and continues to increase—particularly spending for prescription drugs. Over the next decade, the Centers for Medicare and Medicaid Services (CMS) projects that spending for retail prescription drugs will be the fastest growing health category and will consistently outpace that of other health spending. As a result, policymakers, providers, pharmacy benefit managers, and insurers are considering options to slow prescription drug spending increases that affect health plans, consumers, and businesses.
This briefing, hosted by the American Academy of Actuaries, will focus on the issues underlying prescription drug spending in the United States. The Academy’s Health Practice Council has undertaken a multiyear study of various cost components of the U.S. health financing system to help policymakers and the U.S. public better understand the challenges that are driving health spending growth and potential ways to address them. Speakers—actuaries who are uniquely qualified through rigorous education and experience as experts in assessing the historical and future impact of factors affecting health care spending—will provide insight on these challenges, including:
- Drivers of Growth in Prescription Drug Expenses
- Benefits vs. Costs for New Treatments
- Impact of High and Increasing Prescription Drug Costs on Payers
- Options to Address Spending
Moderator
- Audrey Halvorson, MAAA, FSA; Vice Chairperson, Health Practice Council
Presenters
- Karen Bender, MAAA, FCA, ASA; Member, Prescription Drug Work Group
- Susan Pantely, MAAA, FSA; Chairperson, Prescription Drug Work Group
- Shari Westerfield, MAAA, FSA; Vice President for Health Issues