Xarelto copay card for nh9/16/2023 ![]() ![]() The number of negotiated drugs is limited to 10 Part D drugs in 2026, another 15 Part D drugs in 2027, another 15 Part B and Part D drugs in 2028, and another 20 Part B and Part D drugs in 2029 and later years. Medicare Part D and Part B drug spending is highly concentrated among a relatively small share of covered drugs, mainly those without generic or biosimilar competitors. Under the Inflation Reduction Act, brand-name and biologic drugs without generic or biosimilar equivalents covered under Medicare Part D (retail prescription drugs) or Part B (administered by physicians) that are among the highest-spending Medicare-covered drugs and are nine or more years (small-molecule drugs) or 13 or more years (biologicals) from FDA approval are eligible for negotiation. Requires the federal government to negotiate prices for some high-cost drugs covered under Medicare.The Inflation Reduction Act includes two policies that are designed to have a direct impact on drug prices: ![]() This brief examines the potential impact of these provisions for Medicare beneficiaries nationally and by state. These provisions will take effect beginning in 2023 (Figure 1). The law includes several provisions to lower prescription drug costs for people with Medicare and reduce drug spending by the federal government. On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, which includes a broad package of health, tax, and climate change provisions. ![]()
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