Medicare Milestone: Over 10 Million Receive Free Vaccines, Draft Guidance Released for Drug Price Negotiation Program
The U.S. Department of Health and Human Services (HHS) has revealed that over 10 million Medicare Part D beneficiaries received free vaccines in 2023 due to the Inflation Reduction Act, a significant increase from just 3.4 million in 2021. This Act, part of President Biden's efforts to reduce healthcare costs, enables Medicare to directly negotiate drug prices, caps insulin costs for seniors, and makes recommended vaccines free for Part D enrollees. In parallel, the Centers for Medicare & Medicaid Services (CMS) released draft guidance for the second cycle of the Medicare Drug Price Negotiation Program, aiming to negotiate prices for up to 15 additional drugs. This initiative aligns with the administration's focus on reducing prescription drug costs and enhancing access to innovative treatments. Additionally, HHS introduced resources in multiple languages ahead of Asian American, Native Hawaiian, and Pacific Islander Heritage Month, providing information on how Medicare beneficiaries can benefit from the Inflation Reduction Act.
Read the whole draft here.