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Medicare is one of the biggest winners of the Inflation Reduction Act, being granted powers to negotiate drug prices for the first time in history. ... who know better the ins and outs of the drug ...
President Joe Biden's signature Inflation Reduction Act (IRA) includes a provision to penalize drugmakers who work with Medicare, a government program for people aged 65 and older or who are disabled.
The anniversary came just after the Consumer Price Index released a report that showed the U.S. annual rate of inflation at its lowest point since 2021. The effect of the Inflation Reduction Act ...
The funding comes from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. [265] [266] According to a Biden administration statement, in the first year of implementation, around $2 billion was allocated to protect and restore land and marine ecosystems, including National Parks and the National Wildlife Refuge System. [267]
Prescription drug list prices in the United States continually are among the highest in the world. [1] [2] The high cost of prescription drugs became a major topic of discussion in the 21st century, leading up to the American health care reform debate of 2009, and received renewed attention in 2015.
The Inflation Reduction Act, now signed into law, aims to cut drug costs by capping Medicare out-of-pocket costs and allowing Medicare to negotiate drug prices.
The organization claims that higher prices incentivize research and development, even though pharmaceutical spending on marketing exceeds that spent on research, [7] including off-label promotion that has resulted in settlements in the billions of dollars.
The Inflation Reduction Act — which still has plenty of hurdles to overcome before it becomes law — is a far cry from some early Democratic ambitions but nonetheless marks a potentially giant ...