Through the Inflation Reduction Act, the Biden-Harris administration took on Big Pharma and on Aug. 15 announced lower prices for 10 drugs, which are some of the most expensive and frequently prescribed drugs for seniors. For the first time in history, Medicare has the power to negotiate prescription drug prices for seniors and people with disabilities. This is expected to save American taxpayers $6 million on prescription drug costs. People enrolled in Medicare are expected to save about $1.5 billion in out-of-pocket costs in 2026, alone. The list of drugs that are covered in this announcement are here . The new costs will go into effect in 2026.
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