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Medicare Drug Pricing Reform Is A Reality: Here Is What’s On The Agenda

 
• By Cathy Kelly

Congressional Democrats achieved a long-sought goal in passing major legislation to control drug prices in Medicare. A complete lack of Republican support suggests the programs established by the bill will face the same kind of legislative and legal challenges that confronted the Affordable Care Act, which was enacted in a similar manner.     

President Biden speaks before signing the Inflation Reduction Act.
President Biden speaks at the White House before signing the Inflation Reduction Act. • Source: Screenshot

Below are timelines for the major drug pricing provisions of the Inflation Reduction Act, which passed the House 12 August and was signed by President Biden 16 August.

Price inflation rebates could be implemented in late 2022/early 2023 and Part D beneficiaries will see lower cost sharing beginning in 2024. But negotiated prices won’t go into effect for the first time until 2026

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