Part D

via the U.S. Dept. of Health & Human Services (HHS):

For the first time, Medicare will be able to negotiate prices directly with drug companies, lowering prices on some of the costliest prescription drugs.

For the first time, thanks to President Biden’s Inflation Reduction Act – the historic law lowering health care costs – Medicare is able to negotiate the prices of prescription drugs. Today, the U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), announced the first 10 drugs covered under Medicare Part D selected for negotiation. The negotiations with participating drug companies will occur in 2023 and 2024, and any negotiated prices will become effective beginning in 2026. Medicare enrollees taking the 10 drugs covered under Part D selected for negotiation paid a total of $3.4 billion in out-of-pocket costs in 2022 for these drugs.

With the Build Back Better Act having passed the U.S. House of Representatives last fall only to come screeching to a halt when it reached the U.S. Senate due to all 50 Republicans + Dem. Senator Joe Manchin refusing to support it, Congressional Democrats have started introducing standalone bills in an attempt to push through at least some of the more popular provisions.

One of these, which would limit co-pays for insulin to no more than $35/month or less, passed the House last week.

Today, U.S. Senator Raphael Warnock, who also sponsored the Senate version of the insulin co-pay cap bill, introduced a second stand-alone bill plucked from the ashes of Build Back Better:

Senator Reverend Warnock Introduces New Legislation to Cap Prescription Drug Costs for Georgia Seniors