HHS Announces First Ten Drugs Selected For Medicare Price Negotiation

The federal Department of Health and Human Services (HHS) announced the first set of ten drugs selected for Medicare price negotiation. Seniors paid $3.4 billion in out-of-pocket costs for these drugs in 2022. Currently, Medicare Parts B and D cover medications, but Medicare is not permitted to negotiate the price to be paid. A provision of the Inflation Reduction Act of 2022 (IRA) directed the Centers for Medicare & Medicaid Services (CMS) to negotiate prices, starting in 2026, for drugs with the highest total spending covered under Medicare Part B and Part D.

The manufacturers of the . . .