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Medicare to Negotiate Prices for 15 New Drugs

1/18/2025

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Summary

Story summary

In a significant move to ease financial burdens, the Biden administration revealed that Medicare will negotiate prices for 15 more drugs, including the popular Ozempic. Beginning in 2025, a $2,000 cap on out-of-pocket expenses will provide relief to approximately 11 million Medicare Part D enrollees, saving them an average of $600 each year. This initiative is part of the Inflation Reduction Act, designed to tackle soaring prescription drug costs.

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Story summary

In a significant move to ease financial burdens, the Biden administration revealed that Medicare will negotiate prices for 15 more drugs, including the popular Ozempic. Beginning in 2025, a $2,000 cap on out-of-pocket expenses will provide relief to approximately 11 million Medicare Part D enrollees, saving them an average of $600 each year. This initiative is part of the Inflation Reduction Act, designed to tackle soaring prescription drug costs.