Medicare drug negotiations a good start on bringing down health care costs
retirementrevised.substack.com
An important Biden administration effort to control the soaring cost of prescription drugs made headlines this week - but drug costs are just one part of a growing struggle faced by seniors in meeting their healthcare costs. Medicare officials unveiled the first list of drugs that will be subject to price negotiations with pharmaceutical companies under the Inflation Reduction Act (IRA) signed into law last year. The law empowers Medicare to negotiate with drugmakers on some of the most expensive drugs on the market, and the initial list targets medications used to treat diabetes, cancer and heart disease. Any changes in costs resulting from the negotiations will not surface until 2026, but seniors who face high drug costs will see more concrete impacts of the IRA sooner than that.
Medicare drug negotiations a good start on bringing down health care costs
Medicare drug negotiations a good start on…
Medicare drug negotiations a good start on bringing down health care costs
An important Biden administration effort to control the soaring cost of prescription drugs made headlines this week - but drug costs are just one part of a growing struggle faced by seniors in meeting their healthcare costs. Medicare officials unveiled the first list of drugs that will be subject to price negotiations with pharmaceutical companies under the Inflation Reduction Act (IRA) signed into law last year. The law empowers Medicare to negotiate with drugmakers on some of the most expensive drugs on the market, and the initial list targets medications used to treat diabetes, cancer and heart disease. Any changes in costs resulting from the negotiations will not surface until 2026, but seniors who face high drug costs will see more concrete impacts of the IRA sooner than that.