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August 29, 2023

Retirees Applaud Launch of the First Ten Medication That Medicare Will Negotiate Costs for With Drug Companies

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Assertion by Richard Fiesta, Govt. Director of the Alliance for Retired People, on the Facilities for Medicare and Medicaid Providers’ launch of the primary ten medications that will likely be the topic of cost negotiation.

“It’s a landmark day for older people. For the first time, the value Medicare pays for ten of the costliest medications will likely be decided at a negotiating desk, not in a company boardroom.

“Today wouldn’t have occurred without the management of President Biden, who made sure that the Inflation Discount Act included a sturdy motion to decrease the costs older people pay for pharmaceuticals. Because of him, seniors are paying much less for a few of their medications as we speak, and costs will continue to go down within the coming years.

“After all, people have paid the very best costs for pharmaceuticals for many years, and older people have borne the brunt of this disaster. The drug trade has had unfettered monopoly energy over drug costs for too long, and we welcome this essential step towards placing sufferers forward of drug company earnings.”

“In only one year, taxpayers spent $50.5 billion—20% of the entire Half D gross-lined prescription drug prices—on simply these ten medications. Decreased costs on these medications will save taxpayers and beneficiaries thousands of dollars per year.

“The Alliance’s grassroots members have fought to permit Medicare to barter decrease drug costs for more than 20 years. Our members’ tireless activism has stored this subject entrance and middle, and this motion wouldn’t have occurred without them.”

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Contact: Lisa Cutler, lcutler@retiredamericans.org

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