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The Inflation Reduction Act delivers five historic drug price reforms that will deliver relief to millions of patients on Medicare.
The Inflation Reduction Act will save millions of patients millions of dollars by reducing drug prices and out-of-pocket costs in the Medicare program. As each of these provisions take effect in coming years, Americans will see their savings grow and get real relief from the predatory drug pricing practices of Big Pharma.
Drug | Participating Drug Company | Commonly Treated Conditions | 2026 List price | 2023 List price | Discount of Negotiated Price from 2023 List Price | Total Part D Gross Covered Prescription Drug Costs, CY 2023 | Number of Medicare Part D Enrollees Who Used the Drug, CY 2023 |
---|---|---|---|---|---|---|---|
Januvia | Merck Sharp Dohme | Diabetes | $113.00 | $527.00 | 79% | $4,091,399,000 | 843,000 |
Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill | Novo Nordisk Inc | Diabetes | $119.00 | $495.00 | 76% | $2,612,719,000 | 785,000 |
Farxiga | AstraZeneca AB | Diabetes; Heart failure; Chronic kidney disease | $178.50 | $556.00 | 68% | $4,342,594,000 | 994,000 |
Enbrel | Immunex Corporation | Rheumatoid arthritis; Psoriasis; Psoriatic arthritis | $2,355.00 | $7,106.00 | 67% | $2,951,778,000 | 48,000 |
Jardiance | Boehringer Ingelheim | Diabetes; Heart failure; Chronic kidney disease | $197.00 | $573.00 | 66% | $8,840,947,000 | 1,883,000 |
Stelara | Janssen Biotech Inc. | Psoriasis; Psoriatic arthritis; Crohn’s disease; Ulcerative colitis | $4,695.00 | $13,836.00 | 66% | $2,988,560,000 | 23,000 |
Xarelto | Janssen Pharms | Prevention and treatment of blood clots; Reduction of risk for patients with coronary or peripheral artery disease | $197.00 | $517.00 | 62% | $6,309,766,000 | 1,324,000 |
Eliquis | Bristol Myers Squibb | Prevention and treatment of blood clots | $231.00 | $521.00 | 56% | $18,275,108,000 | 3,928,000 |
Entresto | Novartis Pharms Corp | Heart failure | $295.00 | $628.00 | 53% | $3,430,753,000 | 664,000 |
Imbruvica | Pharmacyclics LLC | Blood cancers | $9,319.00 | $14,934.00 | 38% | $2,371,858,000 | 17,000 |
Putting brand new programs like Medicare negotiation into effect takes time, but some portions of the bill will lower prices for patients as soon as 2023.
Annual Part D prescription out-of-pocket costs will be capped at $2,000.
Lower prices for the first 10 negotiated drugs will become available, delivering savings to taxpayers as well as patients taking the selected medications.
Additional drugs will be selected for negotiation each year, and by 2029 as many as 60 drugs total could be selected and negotiated.
Click below to tweet at your elected representatives asking them to take action to allow Medicare to negotiate.
BIG NEWS! As of January 1st, people on Medicare get #FreeVaccines thanks to the Inflation Reduction Act. This will save those people hundreds of thousands of dollars and help save lives! #2023DrugPriceReform
Tweet this!Did you know that this year, insulin copays for people on Medicare will be capped at $35 a month?! For nearly 3 million people on Medicare, that will mean huge savings and better health. #insulincopaycap #2023DrugPriceReforms
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