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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 ...
Together, the 10 selected drugs accounted for more than $50 billion of Medicare Part D spending from June 1, 2022, to May 31, 2023, or 20%, according to the CMS.
Medicare announced the first 10 prescription drugs that will be subject to price negotiation to lower drug costs.
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.
The ability to allow Medicare to negotiate drug prices was included in the Inflation Reduction Act passed by Congress in 2022. The act also set a $2,000 price cap on out-of-pocket drug expenses ...
The U.S. Centers for Medicare & Medicaid Services (CMS) spent $50.5 billion between June 1, 2022 and May 31, 2023 on the 10 drugs, which is the time period used to determine which medicines were ...
The 15 drugs accounted for $41 billion, or 14%, of total Medicare Part D spending between Nov. 1, 2023, and Oct. 1, 2024.
Medicare will seek to negotiate lower list prices for the blockbuster diabetes and weight loss drugs Ozempic and Wegovy and 14 other medications, a cost-saving move that would take effect in 2027 ...