KFF January 31, 2024
Under the Inflation Reduction Act, the federal government for the first time will negotiate directly with drug companies to determine the prices that Medicare will pay for certain high expenditure drugs covered under Medicare Part D (starting in 2026) and Part B (starting in 2028). Part D covers retail prescription drugs and Part B covers physician-administered medications.
This new requirement is the culmination of years of debate among lawmakers in Congress, and the Centers for Medicare and Medicaid Services is implementing the program according to the timeline established in the law. Meanwhile, the drug industry and others have filed several lawsuits seeking to block the effort. This week CMS faces a deadline to submit proposed prices to manufacturers for certain...
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