The Biden administration announced it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, resulting in lower costs for certain older Americans enrolled in Medicare. This initiative is part of the Inflation Reduction Act, which aims to combat price gouging by pharmaceutical companies. Over 750,000 Medicare enrollees are expected to benefit from these reduced prices, potentially saving seniors thousands of dollars. The penalties require drugmakers to pay rebates if they increase prices faster than inflation.
The Biden administration said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare. https://t.co/m3JrcyUFy7
Thanks to the Inflation Reduction Act that I helped pass, seniors will soon see lower costs for 64 more types of prescription drugs. This is fantastic news. https://t.co/xpHDVGSPVL
This is progress for the people! The sky-high cost of prescription drugs is Big Pharma’s greed on full display. Thanks to the Inflation Reduction Act, @HHSgov is working to save folks thousands on life-saving medications. Now, let’s pass my End Price Gouging for Medications Act! https://t.co/2k5tdR1JZC
Great news from @HHSGov! Many Medicare enrollees will now pay significantly lower prices for dozens of prescription drugs, making life-saving medications more affordable for patients who need them. https://t.co/K1DC4oI8U0
Today the Biden admin announced that over 750,000 people with Medicare will pay less for 64 drugs. The Inflation Reduction Act requires pharma companies to pay rebates when they increase prices faster than inflation. Those rebates will be used to save seniors thousands.
Thanks to @POTUS’s Inflation Reduction Act, Americans will see #LowerDrugCosts as the law continues to combat Big Pharma’s price gouging. Every single Republican voted against these protections that provide relief to American families. https://t.co/9bLucnPuyj
Seniors will save on 64 drugs because of the Biden Inflation Reduction Act I voted for! You can find the full list of 64 drugs at https://t.co/mZkrU37ctn https://t.co/2jFeiFrDjd
NEWS 🚨 Our Inflation Reduction Act is continuing to bring down prescription drug prices, putting real money back into people's pockets. And there is much, much more to come. https://t.co/Zk9up4cmvT
Biden administration touts lower costs for 64 prescription drugs https://t.co/KEzsTfPde7
The Biden administration says it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare. https://t.co/9zoYzyFhyN
Medicare Cutting Price of 64 Drugs That Outpaced Inflation https://t.co/5Ip9lMdgR8
Biden administration to lower costs for 64 drugs through inflation penalties on drugmakers https://t.co/mLr7MgCRqo
DYK that the #InflationReductionAct is lowering out-of-pocket drug costs? LGBTQI+ seniors who need high-cost prescriptions for diseases like diabetes and cancer are now seeing financial relief! Learn more at https://t.co/biTK6pf9U3 https://t.co/JVREuv2pco
Thanks to @POTUS Biden's Inflation Reduction Act: - Medicare, for the first time, can negotiate lower drug prices - No senior will pay more than $2,000 out-of-pocket for prescription drugs or more than $35 per month for insulin. It's a big deal! https://t.co/mSnM1ZJjwi