U.S. News

2233 readers

16 users here now

News about and pertaining to the United States and its people.

Please read what's functionally the mission statement before posting for the first time. We have a narrower definition of news than you might be accustomed to.

Guidelines for submissions:

Post the original source of information as the link.
If there is a paywall, provide an archive link in the body.
Post using the original headline; edits for clarity (as in providing crucial info a clickbait hed omits) are fine.
Social media is not a news source.

For World News, see the News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 1 year ago

MODERATORS

[email protected]

White House says deals struck to cut prices of popular Medicare drugs that cost $50 billion yearly (apnews.com)

submitted 1 month ago by [email protected] to c/[email protected]

9 comments fedilink hide all child comments

The discounts, agreed to after months of negotiations with drug manufacturers, range between 38% and 79% on the medication’s list price, which is the cost of medication before discounts or rebates are applied — not the price people actually pay for prescriptions.

Medicare spent $50 billion covering the drugs last year and taxpayers are expected to save $6 billion on the new prices, which do not go into effect until 2026. Older adults could save as much as $1.5 billion in total on their medications in out-of-pocket costs. Administration officials released few details about how they arrived at those calculations.

The newly negotiated prices will impact the price of drugs used by millions of older Americans to help manage diabetes, blood cancers and prevent heart failure or blood clots. The drugs include the blood thinners Xarelto and Eliquis and diabetes drugs Jardiance and Januvia.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 5 points 1 month ago (1 children)

The MMA didn't expire, it was overwritten by the Inflation act:

The Medicare Prescription Drug Act expressly prohibited Medicare from negotiating bulk prescription drug prices.[21] The "donut hole" provision of the Patient Protection and Affordable Care Act of 2010 was an attempt to correct the issue.[22] In 2022, the Inflation Reduction Act removed this ban and allowed Medicare to begin negotiating drug prices starting in 2026.[23] - Source

[–] [email protected] 4 points 1 month ago

Ah, thank you for correcting me