Biden Administration Cracks Down on Rising Prescription Drug Costs, Imposes Inflation Penalties on 64 Prescription Drugs from b gif Watch Video
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⏲ Duration: 0:36 👁 View: 760K times ✓ Published: 27-Jun-2024
Description: The Biden administration announced it will impose inflation penalties on 64 prescription drugs covered under Medicare Part B for the third quarter of 2024. A provision in Biden's Inflation Reduction Act requires drugmakers to pay rebates to Medicare if they increase the price of a medication faster than the rate of inflation. Some Medicare patients may save more than $4,000 per quarter on drugs facing inflation penalties. Over 750,000 Medicare recipients use the 64 drugs facing penalties each year.