Some people with Medicare will pay less out-of-pocket for prescription medications for the fourth quarter of this year, the U.S. Department of Health and Human Services (HHS) said.
The federal agency on Monday identified 54 drugs that had price increases faster than inflation. Under the Inflation Reduction Act (IRA) of 2022, coinsurance rates for these drugs will be adjusted to reflect the inflation rate, and pharmaceutical companies will be penalized in the form of rebates paid to Medicare, the taxpayer-funded federal health care program for seniors.
