What types of drugs are included in the Medicare price negotiations?

The drugs up for Medicare price negotiations include medications for cancer, diabetes, Crohn's disease, ulcerative colitis, rheumatoid arthritis, COPD, HIV, migraines, psoriasis, and other autoimmune conditions.

When will the negotiated Medicare drug prices go into effect?

The negotiated prices for this round of drugs will go into effect in 2028.

What is the deadline for drugmakers to decide on Medicare price negotiations?

Drugmakers have until February 28 to decide whether they will participate in the negotiations.

Home / Business and Economy / Cancer, Diabetes Drugs Face Medicare Price Cuts

Cancer, Diabetes Drugs Face Medicare Price Cuts

28 Jan

•

Summary

Medicare will negotiate prices for cancer, diabetes, and autoimmune drugs.
Negotiated prices for these drugs will go into effect in 2028.
Drugmakers must decide by February 28 whether to participate in negotiations.

Cancer, Diabetes Drugs Face Medicare Price Cuts

Medicare has announced the next wave of prescription drugs slated for price negotiations, impacting medications for conditions such as cancer, diabetes, Crohn's disease, ulcerative colitis, and rheumatoid arthritis. This initiative, empowered by the Biden administration's Inflation Reduction Act of 2022, grants the Centers for Medicare and Medicaid Services (CMS) the authority to negotiate prices for the most expensive drugs annually.

The selected drugs for this round represent a significant portion of Medicare's spending, totaling approximately $27 billion across Medicare Part B and Part D. Drug manufacturers must make a crucial decision by February 28 regarding their participation in these negotiations; opting out typically means removing their drugs from the Medicare market. The finalized negotiated prices are slated to be implemented starting in 2028.