Becker's Healthcare August 15, 2024
CMS expects its Medicare Drug Price Negotiation Program to reduce healthcare costs by $7.5 billion in 2026.
Five things to know:
1. Between Jan. 1 and Dec. 31, 2023, about 8.8 million of the 54 million people with Medicare Part D coverage were provided drugs to treat various conditions, including cardiovascular disease, diabetes, autoimmune diseases and cancer.
2. Selected drugs in the program comprised $56.2 billion in total Part D gross covered prescription drug costs, or about 20% of total Part D gross covered prescription drug costs for 2023. During the same 12-month period, people with Medicare Part D prescription drug coverage spent $18.9 billion in out-of-pocket costs for all drugs covered under Part D, including $3.9 billion out-of-pocket...
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