The Centers for Medicare and Medicaid Services released on Tuesday the list of 10 medications that will be part of the price-setting Drug Price Negotiation Program through the Inflation Reduction Act, affecting an estimated 9.7 million patients with a range of illnesses, including heart failure,…
The Centers for Medicare and Medicaid Services released on Tuesday the list of 10 medications that will be part of the price-setting Drug Price Negotiation Program through the Inflation Reduction Act, affecting an estimated 9.7 million patients with a range of illnesses, including heart failure, blood clots, diabetes, and arthritis.
Not only is the Inflation Reduction Act providing people with Medicare $35 caps on insulin & free recommended vaccines, but now Medicare can directly negotiate Rx drug prices, strengthening the program’s ability to serve people with Medicare now and for generations to come! pic.twitter.com/kwBxGkmxKrThese ten drugs accounted for $50.5 billion in Medicare Part D spending between June 2022 and May 2023, or about 20% of total Part D gross covered prescription drug costs, according to HHS.
By 2029 HHS will select 20 drugs for the negotiation program that will be applicable to both Medicare Parts B and D. Tom Schatz, president of Citizens Against Government Waste, told the Washington Examiner, that the Medicare pricing provision of the IRA has already had a negative impact on pharmaceutical research, creating"an invisible graveyard of patients" who will not be able to benefit from new drugs being brought to market."The U.S.
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