UNDERNEWS: Medicare Can Now Negotiate Prices With Drug Companies for Certain Medications

September 10, 2023

Medicare Can Now Negotiate Prices With Drug Companies for Certain Medications

Nice News - The Department of Health and Human Services recently announced that Medicare will now be able to negotiate prices directly with drug companies for certain prescription drugs, a development that could significantly lower medication costs for millions of Americans. Ten drugs have already been selected for negotiation, including treatments for diabetes, heart failure, and blood cancers. Medicare recipients who took these drugs in 2022 paid a total of $3.4 billion in out-of-pocket costs, per HHS. The price cuts, which will take effect beginning in 2026, have been praised by patients and advocates who believe they will provide much-needed financial relief... Which drugs are included

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ABOUT THE EDITOR

The Review is edited by Sam Smith, who covered Washington under nine presidents, has edited the Progressive Review and its predecessors since 1964, wrote four books, been published in five anthologies, helped to start five organizations (including the DC Humanities Council and the DC Statehood Party), was a plaintiff in three successful class action suits, served as a Coast Guard officer, and played in jazz bands for four decades.

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