In a significant move to reduce healthcare costs, CMS announced the selection of 15 new drugs for Medicare Part D price negotiations under the Inflation Reduction Act, with price reductions set to take effect in 2027. These drugs, treating conditions like cancer, type 2 diabetes, and asthma, accounted for 14% of Part D’s gross prescription costs from November 2023 to October 2024, impacting 5.3 million beneficiaries. The process builds on the success of the first cycle, which saw cuts to 10 drugs. With the scope of negotiations set to expand annually, the initiative aims to ensure broader access to life-saving treatments while putting money back in seniors’ pockets. Could this signal a turning point in affordability for critical medications?
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