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The Biden administration unveiled Tuesday the names of the first 10 drugs subject to price negotiations in Medicare, including several popular blood thinners and diabetes medications.
In total, Medicare recipients spent $3.4 billion out of pocket for these drugs in 2022, with average out-of-pocket spending for the most expensive drugs as high as $6,497 per enrollee.
The 10 negotiated drugs are just the start: In 2027, negotiated prices will go into effect for 15 more drugs, followed by another 15 drugs in 2028 and 20 more in each subsequent year.
"These selected drugs accounted for about $41 billion in total gross covered prescription drug costs under Medicare Part D, or about 14%, during that time period," Biden administration officials ...
The White House says the savings will not stop with these 10 listed drugs. According to its release, Medicare will select up to 15 additional Medicare Part D drugs for negotiation in 2025 and 15 ...
The U.S. government on Tuesday released a list of 10 prescription medicines that will be subject to the first-ever price negotiations by the Medicare health program that covers Americans aged 65 ...
Medicare enrollees can expect to save $1.5 billion in out-of-pocket costs, HHS said. The list price of Merck's diabetes drug Januvia will be slashed to $113 for a 30-day supply from $527 as of 2023.
Medicare announced negotiated prices for 10 prescription drugs, ranging from 38% to 79% discounts on the drug list prices. Price negotiation resulted from a provision of the Inflation Reduction ...