Drug Price Negotiation Requires Oversight To Protect Older Americans

This past August, the release of negotiated Maximum Fair Prices (MFPs) for ten highly utilized drugs in Medicare marked an inflection point within a broader attempt by the federal government to increase access to prescription medications. In creating the Inflation Reduction Act (IRA), Congress included policies to increase treatment access for Medicare beneficiaries, including a $2,000 annual cap on out-of-pocket costs and a policy that allows patients to spread Medicare copayments out over the course of the year.

These policies could prove lifechanging for patients. However, if drug price negotiation continues without guardrails in place to protect beneficiaries, it may in fact impede the policies’ effectiveness in lowering barriers to care. Without adequate oversight from the Centers for Medicare...

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