Medicare and the IRA legislation

If the Inflation Reduction Act becomes law, Medicare “negotiating” drug prices would apply to 10 drugs initially, beginning in 2026, and then expand to include more drugs in the following years. The 10 drugs are not the most expensive individual drugs, but the drugs Medicare spends the most on.

The cap of $2,000 on out-of-pocket spending for prescriptions by Medicare beneficiaries would not go into effect until 2025 (subject to change in the final version of the law).

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