In the first round of price negotiations, Medicare achieved cuts between 38% and 79% on 10 commonly used drugs, impacting millions of Medicare enrollees.
For the 10 drugs, the 2023 cost was $56.2 billion, a 134% increase from 2018, highlighting the urgency for negotiated pricing options.
HHS estimates that if negotiated prices were in effect in 2023, Medicare would have saved $6 billion, with an expected $1.5 billion saved by enrollees in 2026.
The 2025 plan includes a $2,000 cap on out-of-pocket costs for Medicare Part D enrollees, offering potential additional relief alongside negotiated price reductions.
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