BIDEN / HARRIS KNOCK ONE OUTTA-THE-PARK!!!!!!

Phoenix68

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March 29, 2007
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Medicare Releases Prices For First 10 Drugs Subject To NEGOTIATIONS!!!!
August 15, 2024

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"The Biden administration on Thursday released prices for the first 10 prescription drugs that were subject to landmark negotiations between drugmakers and Medicare, a milestone in a controversial process that aims to make costly medications more affordable for older Americans.

The government estimates that the
new negotiated prices for the medications will lead to around $6 Billion in net savings for the Medicare program in 2026 alone when they officially go into effect, or 22% net savings overall. That is based on the estimated savings the prices would have produced if they were in effect in 2023, senior administration officials told reporters on Wednesday.

The Biden administration also expects
the new prices to save Medicare enrollees $1.5 Billion in out-of-pocket costs in 2026 alone."
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"Medicare Part D covers outpatient drugs for about 50 million seniors. The federal program was able to negotiate these prices for the first time in the programs history as a result of the Inflation Reduction Act. Negotiations began in February and progressed through the summer, coming to a close on Aug. 1.

While individual plans have previously been able to negotiate to drive prices down, this is
the first time that Medicare was able to use its leverage and negotiate for the program as a whole.

Sen.
Amy Klobuchar, a Democrat from Minnesota, says she fought for years to get Congress to pass a law lifting the ban on Medicare drug price negotiation.

She joined advocates on Wednesday to discuss the
significance of the upcoming negotiated price announcements, calling out the various tactics pharmaceutical companies have used to hang onto their monopoly power and keep prices high over the years."
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"Medicare Part D covers outpatient drugs for about 50 million seniors. The federal program was able to negotiate these prices for the first time in the programs history as a result of the Inflation Reduction Act. Negotiations began in February and progressed through the summer, coming to a close on Aug. 1.

While individual plans have previously been able to negotiate to drive prices down, this is
the first time that Medicare was able to use its leverage and negotiate for the program as a whole.

Sen.
Amy Klobuchar, a Democrat from Minnesota, says she fought for years to get Congress to pass a law lifting the ban on Medicare drug price negotiation.

She joined advocates on Wednesday to discuss the
significance of the upcoming negotiated price announcements, calling out the various tactics pharmaceutical companies have used to hang onto their monopoly power and keep prices high over the years."
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And not a reply from the republican peanut gallery.
 
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