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The U.S. pharmaceutical industry is pushing to revamp the new law that allows Medicare to negotiate prices for its costliest prescription drugs once president-elect Donald Trump is back in office ...
Harris has promised to expand two provisions in the Inflation Reduction Act, allowing Medicare to negotiate some drugs' prices. She wants to expand the law's $2,000 cap on drug spending and $35 ...
Burch said the $2,000 out-of-pocket cap will have a big impact for Medicare enrollees. ... These drops are due to changes stemming from the Inflation Reduction Act, which takes effect in 2025 ...
The Inflation Reduction Act is set to lower drug prices for millions of people in the U.S. — but experts fear pharmaceutical companies could exploit loopholes in the bill, ultimately keeping ...
The funding comes from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. [261] [262] According to a Biden administration statement, in the first year of implementation, around $2 billion was allocated to protect and restore land and marine ecosystems, including National Parks and the National Wildlife Refuge System. [263]
Medicare is one of the biggest winners of the Inflation Reduction Act, ... know better the ins and outs of the drug industry. ... to the potential for a negative impact to broader drug pricing ...
The "donut hole" provision of the Patient Protection and Affordable Care Act of 2010 was an attempt to correct the issue. [23] In 2022, the Inflation Reduction Act removed this ban and allowed Medicare to begin negotiating drug prices starting in 2026. [24]
President Joe Biden's signature Inflation Reduction Act (IRA) includes a provision to penalize drugmakers who work with Medicare, a government program for people aged 65 and older or who are disabled.