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Xarelto copay card for nh8/1/2023 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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