The Center for Medicare and Medicaid Services to begin first round of price negotiations for 10 drugs, additional drugs to follow.
This week, the U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), announced the first 10 drugs covered under Medicare Part D selected for price negotiation. The negotiations with participating drug companies will occur in 2023 and 2024, and any negotiated prices will become effective beginning in 2026. Medicare enrollees taking the 10 drugs covered under this section paid a total of $3.4 billion in out-of-pocket costs in 2022 alone. According to a Maryland Matters article, there are 1.1 million Marylanders enrolled in Medicare.
The selected drug list for the first round of negotiation is:
These drugs treat a range of issues, the most common being diabetes, arthritis, blood clots, and heart failure. A quick take fact sheet on the drugs was published as part of the HHS announcement along with average total costs during the 2022-2023 window. As the process continues, CMS will host ten listening sessions this fall, one for each product on the list and with time for public comments.