News Briefs: CMS Posts First Set of Medicare Negotiated Prices for 10 Part D Drugs
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Aug 15, 2024
CMS released the first set of negotiated prices for 10 drugs with the highest total gross Part D spending, as directed by the Inflation Reduction Act (IRA). The agency published the list of 10 drugs selected for Medicare price negotiations a year ago and on Aug. 15 posted the maximum fair prices reached with manufacturers, reflecting discounts that range from 38% to 79% off of list price. The negotiated prices will take effect in 2026 and are expected to generate an aggregated savings of $1.5 billion in out-of-pocket costs for seniors. CMS estimated that about 9 million people with Medicare use at least one of the 10 negotiated drugs, which include highly utilized brand-name drugs Eliquis (apixaban) for the prevention and treatment of blood clots and Jardiance (empagliflozin) for the treatment of diabetes, heart failure and chronic kidney disease. CMS will continue to engage in price negotiations on select high-cost Part B and Part D drugs for future years. Read more© 2024 MMIT
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