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Prescription drug costs may nearly triple over the next four years, already unafforable for people on low and fixed incomes.
Members of the Public Employees Insurance Agency Finance Board expressed concerns over the problem yesterday in
Charleston.
Drug expenses are expected to increase at roughly 23 percent a year. Coupled with other increasing costs of healthcare,
malpractice and rising insurance premimums, it is likely national healthcare will reach a crisis.
The state's employee program will pay $319.9 million on prescription drug claims in budget year 2006-07 â up from the
$127.9 million the program is expected to spend this year.
Board member John Ruddick said he fears PEIA will implode.
Blue Cross and Blue Sheild has told legislators the cost of family coverage will reach over $16,000 a year by 2006-07.
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