Medicare prescription drug price negotiations

I’m excited to share some exciting developments that highlight a step toward improving health care affordability for millions of Americans. The federal government has made significant progress in reducing prescription medication costs.

Through the first-ever drug pricing negotiation power granted to Medicare under the  Inflation Reduction Act , Medicare enrollees can expect significant price reductions for 10 of the most expensive prescription drugs. Below are notable examples of the reductions, which reflect the significant discounts from their list prices:

• Eliquis, previously $521 for a 30-day supply, will now be priced at $231.
• Xarelto's price will drop from $517 to $197.
• Januvia, currently at $527, will be reduced to $113.
• Jardiance, a diabetes drug, will drop from $573 to $197.
• Enbrel, a rheumatoid arthritis drug, will now be $2,355, down from $7,106.



While these new prices  won't take effect until 2026 , they will save Medicare enrollees around $1.5 billion in out-of-pocket costs in the first year alone.

These negotiations are welcome news to many, so please share this information with others who might benefit from it. As always, if you have any questions or want to discuss how to manage your healthcare costs most effectively, please don’t hesitate to reach out.