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Ten drugs are slated to have their prices slashed for Medicare recipients, but the drug industry is objecting to the new law. Medicare can now negotiate prices on these drugs to help seniors save ...
America's seniors will pay more for their health care in the new year, as the Centers for Medicare and Medicaid Services (CMS) has announced that premiums for its Part B plan will increase by ...
On Wednesday's call, administration officials said the new negotiated prices are projected to save Medicare enrollees $1.5 billion in out-of-pocket costs in the first year.
Medicare covered 57 million people as of September 2016. [32] While on the other hand, Medicaid covered 68.4 million people as of July 2017, 74.3 million including the Children's Health Insurance Program (CHIP). [33] Medicare and Medicaid are managed at the Federal level by the Centers for Medicare and Medicaid Services (CMS).
High drug prices can sometimes be a necessity to finance the high-risk and high-cost nature of pharmaceutical R&D. [93] 11% of drug candidates that enter clinical trials are successful and receive approval for sale. [94] Although the cost of manufacturing is relatively low, the cost of developing a new drug is relatively high.
In the years since Medicare's creation in 1965, the role of prescription drugs in patient care has significantly increased. As new and expensive drugs have come into use, patients, particularly senior citizens at whom Medicare was targeted, have found prescriptions harder to afford. The MMA was designed to address this problem.
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5609 Trabue Road, Columbus, OH · Directions · (877) 684-3573