Consumer Alert: Ten drugs are now cheaper for Medicare enrollees — but some are pushing for program expansion
If you’re on Medicare, one or more of your prescription drugs could get a whole lot cheaper. Congress recently passed a law that allows the government to negotiate, on behalf of folks on Medicare, the prices of ten widely used drugs.
On Thursday at a raucous rally, President Biden rolled out the specifics of the new law. The chosen medications are used to treat common conditions. They include the blood thinners Eliquis and Xarelto; diabetes medications Jardiance, Januvia, Farxiga and Fiasp; the popular heart failure medication Entresto; arthritis drugs Enbrel and Stelara; and the blood cancer medication Imbruvica.
And these drugs aren’t cheap. Medicare enrollees paid a total of $3.4 billion in out-of-pocket costs for these drugs in 2022. The new negotiated prices are 38 to 79 percent cheaper, according to information released by the U.S. Department of Health and Human Services.
But many Democrats in Congress are pushing for a bill that would allow any insured American to get those drugs at the lower negotiated price.
Congressman Joe Morelle (D), N.Y District 25: “When you look at it from a business point of view, the United States government is a huge consumer through Medicar, Medicaid, et cetera. We have enormous power, the power of the federal government. Why would we not use that leverage to drive down the price of drugs everywhere across the country?
Deanna Dewberry, News10 NBC: “The argument is this is moving one step closer to socialized medicine. You say what to that?”
Morelle: “That’s what they said about Social Security. That’s what they said about Medicare. People want security. They want to be able to afford their prescription drugs.”
Morelle says too many patients are forced to choose between buying meds or paying rent, and shelling out big bucks for expensive medications quite simply is not an option.
Dr. LeKeyah Wilson, medical director of Community Pediatrics and Wellness at Rochester Regional Health, agrees. She spoke about one of her young patients who has severe asthma.
“I will get reports that she is appearing in the emergency room for acute asthma exacerbation,” said Dr. Wilson. “Not only is she going to the emergency room, but she’ll be admitted to the hospital.”
That’s because the child’s family can’t afford needed medications.
“They are struggling with housing, employment, there’s just so many other things going on,” Dr. Wilson explained.
Wilson is pushing to expand the bill because she says getting the meds needed for good health should be a right, not a luxury.
Morelle admits the bill to expand the program is very unlikely to pass the Republican-controlled House of Representatives, but he’s pushing it nonetheless. As for the current program for Medicare enrollees, the new law allows the government to select 15 more drugs for negotiated pricing by next February. Those drugs will be available for reduced prices in 2027.