Medicare spending a lot more on prescriptions

By Robert King

Published August 18, 2016 2:59pm ET

Medicare spending a lot more on prescriptions — The Obama administration found that drug spending on Medicare Part D, the program's prescription drug program, was $121 billion in 2014, a 17 percent increase from 2013. (AP Photo) | Rich Pedroncelli

Medicare spending on pharmaceuticals increased by double digits in recent years, reflecting overall spending trends, according to a new federal report.

The Obama administration found that drug spending on Medicare Part D, the program’s prescription drug program, was $121 billion in 2014, a 17 percent increase from 2013.