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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.
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.
An analysis by KFF, a private nonprofit health policy organization, found that of the 167 million people with employer health insurance, 3.4 million took one of 10 drugs negotiated by Medicare.
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 ...
The Biden administration will send proposed prices for 10 medications for people enrolled in Medicare Part D plans.
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 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 ...