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Starting Jan. 1, millions of Americans who get their prescription drugs through Medicare could get a major financial break when a $2,000 out-of-pocket spending cap on medications goes into effect.
For instance, Cost Plus charges $5.60 for a metformin tablet (a generic diabetes pill), vs. about $20 at other pharmacies. The generic for the cholesterol drug Zetia costs $6.80 per tablet ...
It's no secret that prescription drug prices are unmanageable for many Americans. In 2023, almost a third of U.S. adults said they skipped their prescribed medications due to cost. Between drug ...
The bill also mandates the HHS to cut administrative costs related to healthcare in half over a 10-year period, including costs in Medicare, Medicaid, and private insurance. The HHS would be required to start a grant program so states can establish commissions to target unnecessary administrative costs as well.
One month after passage, the administration estimated that the net cost of the program over the period between 2006 (the first year the program started paying benefits) and 2015 would be $534 billion. [19] As of February 2009, the projected net cost of the program over the 2006 to 2015 period was $549.2 billion. [20]
Average cost savings: According to the company, in 2023, GoodRx Gold individual plan members saved an average of $3,961 for the year on retail prescription prices. Family plan members saved an ...