Reply to Prescription drugs are set to become substantially more affordable for seniors

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[quote=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.
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