Negotiations for the first group of selected drugs will begin in 2023, with negotiated prices going into effect in 2026.
, used by 3.7 million Medicare enrollees, including 155,000 Ohioans, to prevent and treat blood clots. The average Part D covered prescription drug costs per enrollee for this drug is $4,448 per year., used by 1.6 million Medicare enrollees, including 47,000 Ohioans, to treat diabetes and heart failure. The average Part D covered prescription drug costs per enrollee for this drug is $4,487 per year.used by 1.
Biden’s statement said that when implemented, prices on the negotiated drugs will decrease for up to 9 million seniors who currently pay up to $6,497 in out-of-pocket costs per year for these prescriptions. It said the nonpartisan Congressional Budget Office estimates this will save taxpayers $160 billion by reducing how much Medicare pays for drugs through negotiation and inflation rebates.
Sabrina Eaton writes about the federal government and politics in Washington, D.C., for cleveland.com and The Plain Dealer.
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