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More than a million U.S. seniors will save $1,100 in prescription drug costs every year under a provision in the 2022 Inflation Reduction Act, according to a new report released Wednesday. The ...
WASHINGTON (Reuters) -More than 1 million people in the U.S. will save over $1,000 a year beginning in 2025, when an annual $2,000 cap on prescription drug out-of-pocket costs kicks in, the ...
Taxpayers are expected to save billions after the Biden administration inked deals with pharmaceutical companies to knock down the lists prices for 10 of Medicare’s costliest drugs. After months ...
For the first time ever, the federal government will negotiate the price of 10 of Medicare’s costliest drugs. The negotiated list prices, announced in August, will take effect in 2026. Taxpayers spend more than $50 billion yearly on the 10 drugs, which include popular blood thinners Xarelto and Eliquis and diabetes drugs Jardiance and Januvia.
In August, President Biden signed into law the Inflation Reduction Act (IRA) of 2022, aimed at lowering prescription drug prices for seniors.
In addition to Medicare’s ability to negotiate prescription drug prices, the IRA caps the annual out-of-pocket cost of prescriptions for seniors with Medicare at $2,000, which is projected to ...