15 million: Americans saving $800 per year on health insurance premiums because of the Inflation Reduction Act.4 million: Number of seniors already benefitting from the Inflation Reduction Act’s $35 per month cap on the cost of insulin.$160 billion: How much taxpayers will save because of the Inflation Reduction Act’s health care provisions.33 years: Amount of time leaders spent trying to allow Medicare to negotiate lower drug prices.$6,497: The out-of-pocket cost seniors had to pay per year for just one of the drugs selected for negotiation.$3.4 billion: Amount Medicare beneficiaries spent in out of pocket costs in 2022 on the 10 drugs.9 million: Number of seniors who took the 10 drugs selected for Medicare Price Negotiation in 2022.President Biden’s Inflation Reduction Act – Lowering Health Care Costs: By the Numbers The Inflation Reduction Act is a step in that direction that we should be building on so that many more people can benefit. We believe that no matter where you live, what age you are, what you look like or how much money you have, access to affordable healthcare and medications should be a right, not a privilege. Health care and prescription drug pricing have been a focus for Iowa Citizen Action Network for decades. And it’s time for Republicans in Congress to remember who they represent… it’s their constituents NOT their big pharma campaign donors! It’s time for Big Pharma to stop suing and start negotiating lower prices so everyone in Medicare can get the medicines they need. Today’s announcement is a major step forward in the Administration’s efforts to lower costs for American families and make health care more affordable.īut even as Medicare officials prepare to negotiate prices, the drug corporations that manufacture these medicines are filing lawsuits to try and overturn the law so they can keep price-gouging patients and inflating profits.These drugs are used to treat some of the most common diseases like diabetes, heart disease, arthritis, blood clots, and cancers – and in 2022 cost seniors up to $6,497 in out-of-pocket costs per year for just one of these drugs.In 2022 alone, around 9 million seniors and other Medicare beneficiaries spent over $3.4 billion out-of-pocket on the 10 drugs selected for negotiation.Up to 9 million Americans will be able to benefit from the new negotiated drug prices. Under President Biden and Vice President Harris, those days are ending.While pharmaceutical companies made record profits and spent hundreds of millions of dollars on lobbying year after year, millions of Americans were forced to choose between paying for medications they need to live, or paying for other basic necessities. For decades, Big Pharma has blocked negotiations from happening.In fact, pharmaceutical companies regularly show their appreciation to taxpayers by charging Americans three, five, and sometimes even 10 times more than they are charging in other countries around the world for the exact same drugs. Pharmaceutical companies conveniently forget who funds much of the initial research that paves the way to their blockbuster drugs.This won’t happen overnight… Negotiations for the first group of selected drugs will begin in 2023, with negotiated prices going into effect in 2026. Together, the 10 drugs selected accounted for $50.5 billion, or 20%, of Medicare Part D spending from June 1, 2022, to May 31, according to the CMS. Stelara, a drug for psoriasis and Crohn’s disease.Farxiga, a drug for diabetes, heart failure and chronic kidney disease.
Click here to read more about negotiations Once implemented, Medicare negotiations will save patients and taxpayers billions on prescriptions in Part D and ensure millions more people can access affordable medicines they need. President Biden officially announced the first ten drugs that CMS has named eligible for Medicare negotiations. Thanks to President Biden’s historic prescription drug law, the Inflation Reduction Act
0 kommentar(er)
