McKnight’s Senior Living August 12, 2022
(HealthDay News) — The Inflation Reduction Act is expected to bring out-of-pocket drug costs down for many U.S. seniors, but most of its benefits are not immediate.
Under the law, Medicare will now be allowed to negotiate the cost of some drugs. That should eventually bring down out-of-pocket costs for seniors with Medicare Part D prescription drug plans, according to John Clark, a clinical associate professor at the University of Michigan College of Pharmacy. Previously, Medicare was not allowed to negotiate drug prices.
Under the law — which goes to President Joe Biden after it clears the U.S. House of Representatives — the number of medications will be phased in, beginning in 2026 with 10 drugs. Beginning next year, drug...
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