10 Drugs Will Negotiate Medicare Price
Category: Medicare
October 5, 2023 — The Biden administration announced that 10 drugs will negotiate Medicare price to lower prices in the future. Several of them complained of being ” forced” to sign on; but all will participate to avoid penalties if they do not agree to negotiate prices.
The White House predicts that the ten drugs selected for negotiation meant $3.4 billion in out-of-pocket costs for an estimated 9 million Medicare enrollees in 2022, and would save the government about $100 billion over a decade. The negotiations were authorized by the Inflation Reduction Act, which passed without any Republican votes.
The expensive drugs selected for the program include blood thinners Eliquis and Xarelto, and Jardiance and Januvia, which treat diabetes. Negotiated prices for those drugs are scheduled to go into effect at the beginning of 2026.
Comments on "10 Drugs Will Negotiate Medicare Price"
Russ Lindley says:
Will the expensive ozempic and other "weight loss" GLP-1 drug be reduced in price as part of this negotiation with pharmaceutical companys?
Admin says:
Good question Russ. They are not in the 10 drugs that already have their price negotiated, but who knows what will happen in the future. Certainly a lot of people are using them, not just for weight loss but for other conditions as well. Nobody knows what the next batch of drugs to be negotiated will be, but if past is precedent, they will be from the remaining most expensive and most commonly used.
Shumidog says:
Has the list of the 2nd group of drugs been announced?
John says:
The next 15 drugs have not been announced yet. It looks like those prices will go in effect in 2028