Biden Administration Looks into Expanding Reach of Medicare Drug Pricing Negotiations

March 7, 2023

During a statement about his administrations budgetary plans, US president Joe Biden argued that more drugs should undergo Medicare pricing negotiations. In addition, he called on the process to go more quickly, considering that only a small number of drugs will be negotiated starting in 2026 under the Inflation Reduction Act.

According to Zachary Brennan, “What’s unclear at the moment is how many drugs Biden wants to add to the IRA, and how much more money needs to be ushered over to CMS to implement this plan. The IRA appropriates $3 billion for implementing the drug price negotiation provisions over the 2023-2031 period, according to KFF.”

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(Source: Endpoints News, March 7th, 2023)

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