Psoriasis Psoriatic arthritis Crohn’s disease Ulcerative colitis Rheumatoid arthritis Psoriasis Psoriatic arthritis Prevention and treatment of blood clots Reduction of risk for patients with coronary or peripheral artery diseaseĭiabetes Heart failure Chronic kidney disease Number of Medicare Part D Enrollees Who Used the Drug from June 2022-May 2023Īverage Part D Covered Prescription Drug Costs Per Enrollee Total Part D Gross Covered Prescription Drug Costs from June 2022-May 2023 HHS Announces First Set of Drugs Selected for Medicare Price Negotiationįor the first time ever, HHS announced ten drugs selected for Medicare drug price negotiation: Drug Name Over the next 4 years, Medicare will negotiate prices for up to 60 drugs covered under Medicare Part D and Part B, and up to an additional 20 drugs every year after that. Today, the Biden-Harris Administration is delivering on another significant milestone in implementing President Biden’s historic law to lower health care and prescription drug costs and ushering in a new era for American seniors. Their profits grew as they spent more on stock buybacks and dividends than they spent on research and development, even as nearly three in ten Americans struggle to afford their medications because of cost. Seniors paid $3.4 billion in out-of-pocket costs for these drugs in 2022.īig Pharma has long fought this progress. Today, Medicare has for the first time selected 10 drugs for negotiation. But now, thanks to the Inflation Reduction Act, Medicare can directly negotiate prescription drug prices to get a better deal for seniors. This action is on top of progress previously made in reducing the cost of insulin to $35 a month for people with Medicareįor far too long, Americans have paid more for prescriptions drugs than any major economy.
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