Historic Drug Price Reductions for Medicare Beneficiaries
In a landmark move, the Biden administration has successfully negotiated substantial price reductions for 10 of Medicare’s most expensive and widely used prescription drugs. This groundbreaking achievement is set to save U.S. taxpayers an impressive $6 billion and provide Medicare beneficiaries with an estimated $1.5 billion in out-of-pocket savings during the first year.
Key Reductions Include:
● Eliquis: Reduced from $521 to $231 (nearly 60% off)
● Imbruvica: Reduced from $14,934 to $9,319 (over $5,600 in monthly savings)
● Januvia: Reduced from $527 to $113 (75% reduction)
These changes, which will take effect in 2026, mark a historic shift in Medicare’s ability to negotiate drug prices, thanks to the Inflation Reduction Act. This pivotal legislation gives the federal government the power to directly negotiate with pharmaceutical companies for the first time, promising greater affordability and accountability in healthcare.
Stay informed about how these significant changes could benefit you. For more information on managing your health under Medicare, visit our website or call us today.
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Credit: Stacy M. Brown, Washington Informer
