HHS secretary states that the negotiations will save Americans $3.7 billion in the first year.
Medicare announced its first finalized list of drug price maximums for 10 prescription drugs last month, which will officially take effect in 2026. Medicare estimates that the lowered prices will save the governmental healthcare program and its 67 million enrollees $6 billion per year. The agency stated it will continue to negotiate maximum pricing for other prescription drugs.
“Americans pay too much for their prescription drugs,” said Department of Health and Human Services Secretary Xavier Becerra. “Congressional budget estimators (Congressional Budget Office) predicted about $100 billion savings over 10 years from drug negotiations, and a $3.7 billion savings in the first year alone.“
“CMS is proud to have negotiated drug prices for people with Medicare for the first time. These negotiations will not only lower the prices of critically important medications for cancer, diabetes, heart failure, and more, but will also save billions of dollars,” said Centers for Medicare and Medicaid Services Administrator Chiquita Brooks-LaSure.
As the Lord Leads, Pray with Us…
- For Administrator Brooks-LaSure to be led by God as she heads CMS.
- For Secretary Becerra as he oversees the negotiation process for prescription prices.
Sources: Reuters, Centers for Medicare and Medicaid Services
