The White House released a statement in the past few days highlighting the planned reduction in some Medicare Part D prescription costs. The plan, which is part of the Biden Administration’s Inflation Reduction Act, is seen as countering the ridiculously high costs Medicare beneficiaries have to pay just to be allowed to live a little longer. The drugs that are due to have capped prices include those that treat diabetes, heart conditions, and some blood cancers.
The estimated savings will amount to $1.5 billion in the first year alone. The catch being that the first year is not until 2026.
To read more you can go to the White House’s own fact sheet here: FACT SHEET: Biden-Harris Administration Announces New, Lower Prices for First Ten Drugs Selected for Medicare Price Negotiation to Lower Costs for Millions of Americans | The White House