Prescription drugs are set to become substantially more affordable for seniors

[Anonymous]

Monumental changes to prescription drug prices for seniors are coming (WaPo):

https://www.washingtonpost.com/opinions/2024/04/30/drug-prices-medicare-biden-administration/

Reductions in the price of frequently-used prescriptions will take effect in the coming years. Please pass along this info to all your seniors, and everyone who needs a reason to vote for Biden. It's important that people know who to thank and encourage in November.

Take aways from the article:

1. Medicare is now allowed to negotiate directly with manufacturers, which will reduce the price of drugs. Only a certain number of drugs will be in negotiations every year.

2. This will save $100 BILLION over the next several years.

3. Starting next year, Part D will be capped at a max of $2K!

4. Insulin is already capped at $35 a month for Medicare recipients. Given our diabetes epidemic, this is lifechanging for million of patients because pharma companies outside Medicare also agreed to reduce their prices. It is hoped that such a spillover will also affect all the other non-Medicare drug pricing once they take effect in the coming years.

5. Free vaccines for Part D patients.

6. Inflation penalty for pharma companies if they raise prices faster than inflation.

7. Subsidy for the poorest Medicare recipients. Anyone who thinks they might fit that description should call 1-800-Medicare.

[Anonymous]

Doesn’t help seniors with Parkinson’s who depend on costly Rytary, which isn’t covered bc it’s not on the formulary.

[Anonymous]

$2,000 still is too high a cap. Most don’t have that much money.

[Anonymous]

It’s a huge change and Biden should get credit

[Anonymous]

One of the few pieces of good news I read lately. Healthcare in the USA is so costly and broken, it's good to see this trending in the right direction.

[Anonymous]

Anonymous wrote:It’s a huge change and Biden should get credit

+1
As always, Republicans vote against regulations that help their constituents but then will take the credit.

[Anonymous]

Anonymous wrote:Doesn’t help seniors with Parkinson’s who depend on costly Rytary, which isn’t covered bc it’s not on the formulary.

I just looked up a bunch of plans and it was covered as a specialty drug at 30% coinsurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn’t help seniors with Parkinson’s who depend on costly Rytary, which isn’t covered bc it’s not on the formulary.

I just looked up a bunch of plans and it was covered as a specialty drug at 30% coinsurance.

And even if it weren't, PP should be capable of being happy that other seniors will benefit even if not every brand name drug is getting cheaper immediately.

[Anonymous]

Also, if the drug you need isn’t covered by the Part D plan you have, you can change Part D plans every year during open enrollment.