Drugs that treat certain tropical diseases, rare pediatric diseases and illnesses related to public health emergencies are essential—but they may not be the most profitable to make. When drug developers make these kinds of drugs, FDA can award them “priority review vouchers.” Drug developers can redeem a voucher to speed up FDA review of a future—potentially more profitable—drug. Vouche...

The Patient Protection and Affordable Care Act (PPACA), as amended by the Health Care and Education Reconciliation Act of 2010 (HCERA), contained a number of provisions intended to increase the availability and affordability of health insurance coverage while also controlling costs. To help finance these coverage expansions, PPACA included a 2.3 percent excise tax on the sale of certain medical de...

Multiple entities offer medical credit cards, but according to market participants with whom GAO spoke, CareCredit LLC issues the majority of medical credit cards. In 2013, the company reported 4.4 million cardholders and 177,000 participating providers in its network, the majority of which were dental offices. Several other financial institutions also issue medical credit cards, usually offering...

Annuities with guaranteed lifetime withdrawals can help older Americans ensure they do not outlive their assets, but do present some risks to consumers. Two such products, variable annuities with guaranteed lifetime withdrawal benefits (VA/GLWB) and contingent deferred annuities (CDA), share a number of features but have some important structural differences. For example, both provide consumers wi...

According to data from the Bureau of Labor Statistics, women made up nearly 47 percent of the total workforce in the United States in July 2010. Women's participation in the labor force, particularly among women with children, is much higher today than several decades ago. For example, using data from the Current Population Survey, the Bureau of Labor Statistics reported that couples in which only...

With poverty rates and unemployment on the rise, the federal system of income, employment, and family supports has become increasingly important to a growing number of Americans. Due to their higher rates of poverty, certain minority groups are more likely than their nonminority counterparts to be represented in these programs and ancillary programs that serve low-income workers and families. The...

The federal government invests significantly in medical education through various programs to help ensure that the anticipated supply of new physicians meets the nation's health care needs. Medicare, the federal health care program for elderly and certain disabled people, subsidizes training for medical school graduates in hospitals and other teaching institutions by helping to support the increas...

On December 17, 2008, GAO issued a report concerning our findings on the Social Security Administration's (SSA) collection of medical evidence in the disability determination process. In the course of our review, an issue arose that was outside the scope of our work but is important to how SSA communicates its disability determinations to claimants. During this review, we examined a limited random...

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) created a prescription drug benefit for beneficiaries, called Medicare part D, beginning in January 2006. The MMA included incentives for sponsors of employment-based retiree health plans to offer prescription drug benefits to Medicare-eligible retirees, such as a federal subsidy when sponsors provide benefits meeting...

In addition to providing an overview of a company's business operations, the annual reports submitted to the Securities and Exchange Commission present important information on an employer's estimated obligations for postemployment benefits, including retiree health benefits. However, the assumption used to estimate obligations for postemployment benefits vary across companies and are not comparab...