Chris Stevenson’s Post

This past week, CMS held their patient listening sessions on the new Medicare Drug Price Negotiation Program under the Inflation Reduction Act. Just in time for National Diabetes Awareness Month, the session heard from many patients speakers that have used Novolog or Fiasp, one of the selected 10 drugs up for negotiation. I shared my story on how this drug, Novolog, became my lifeline seventeen years ago; and for the last seventeen years I have continued to watch the price of my insulin rise, absent of it ever changing in effectiveness, molecular composition, or delivery method. In 2026, the first ten drugs with negotiated maximum fair prices will go into effect. Approximately 763,000 Americans on Medicare Part D used Fiasp and Novolog in 2022, and the average spending was $3,323 per enrollee. The negotiations will forever change the landscape of how much is expected to be spent on insulin. This is a crucial step towards pharma accountability. The Medicare Drug Price Negotiation Program will eliminate cost sharing and cap out of pocket spending for people with Medicare Part D, require drug companies to pay a rebate to CMS if they raise their prices faster than inflation, and reduce drug spending by the federal government. In 2026, many more Americans will have access to affordable insulin. While this is not the end of the journey to #insulin4all, it is another step forward! #nationaldiabetesawarenessmonth https://lnkd.in/efBWMz9u

Medicare Price Negotiations Target Drug Costs: Industry Reacts

🚩As CMS prepares to send its initial drug pricing offers under the IRA by Feb 1, it’s clear that the shift towards government price controls in Medicare Part D risks unintended but foreseeable harms to innovation & patient care. Read more on the issue ⬇️

Medicare drug price negotiation is benefitting you. Look at the savings in your home state: https://lnkd.in/g7z3dcHQ

The Inflation Reduction Act (IRA) – signed into law by President Biden on Aug. 16, 2022 – includes a section relating to drug price negotiation that subjects some of the most expensive Medicare/Medicaid #drugs to mandatory price reductions. The IRA also includes a provision excluding orphan drugs from the price negotiation requirement, provided that the orphan drug has a single indication. Find out what an orphan drug is and how it is further impacted by the IRA: https://lnkd.in/edZyxqDq

Next Friday is the first deadline for Medicare to release the 10 drugs that will be subject to active price negotiations between the government and manufacturers. I have so many feelings! And so many questions! How "active" will the negotiations be? Is "take it or leave" a "fair" way for the government to negotiate prices? Was that the intent of congress, or perhaps I'm misunderstanding the law? I also don't understand constitutional law. Is charging obscene amounts for drugs and health care protected under the first amendment? Is the Bill of Rights the reason why drug costs are 3x higher in the US than Europe? Will the Supreme Court delay this program? Enjoy some reading below if you're interested! https://lnkd.in/gmYDZ9Y2 Timeline https://lnkd.in/gQVdm5HN CMS Webpage https://lnkd.in/gH6iAU5G News Article https://lnkd.in/gKcbMaS5 Lawsuit

The Inflation Reduction Act (IRA) – signed into law by President Biden on Aug. 16, 2022 – includes a section relating to drug price negotiation that subjects some of the most expensive Medicare/Medicaid #drugs to mandatory price reductions. The IRA also includes a provision excluding orphan drugs from the price negotiation requirement, provided that the orphan drug has a single indication. Find out what an orphan drug is and how it is further impacted by the IRA: https://lnkd.in/e8HJ8TwK

Medicare Prescription Drug Plans, also known as Part D, have greatly increased the restrictions and exclusions in recent years. That trend is expected to continue for in 2025. Making it more difficult for beneficiaries to find affordable options. The 2025 Annual Enrollment Period will be an opportunity for Medicare Brokers to create new relationships and increase brand awareness. As we will, undoubtedly, have many beneficiaries struggling to understand the changing marketplace. We look forward to educating and aiding your friends and family as they transition into Medicare! https://lnkd.in/eNCTGeQi

United States: Mintz IRA Update — Basics Of The Medicare Drug Price Negotiation Program The Inflation Reduction Act ("IRA") was passed just over a year ago with a goal of lowering high drug costs for Medicare beneficiaries and reducing costs incurred by Medicare. A central piece to achieving the IRA's goal of lowering drug costs is the Medicare Drug Price Negotiation Program ("Negotiation Program" or "Program"), under which the federal government has the ability to negotiate drug prices for certain high-expenditure Medicare Part D drugs, and eventually Part B drugs. Click the link below to read the complete story.

Looks like we've had the first decision dismissing a challenge to the Medicare drug price "negotiation" (yes, in quotes) program. Check out the below post that Gulrukh Haroon and I authored for more details on the decision and its potential impact on the other pending court cases. #drugpricing #medicare https://lnkd.in/gvBd9JVB