All articles tagged with #drug rebates
Cigna plans to eliminate prescription drug rebates in many of its private health plans by 2027, shifting to upfront discounts to lower patient costs and reduce the influence of rebates, which have been controversial and linked to higher drug prices. This move aims to increase transparency and potentially negotiate better drug prices, marking a significant change in the pharmaceutical and insurance industries.
The Biden administration has released a list of nearly 30 drugs covered by Medicare that will be subject to penalties under the Inflation Reduction Act, as their prices increased faster than the rate of inflation. Drug manufacturers will be required to pay rebates to the federal government if the price of medications covered by Medicare Part B and Part D increase at a rate that exceeds inflation. The list includes drugs such as Humira and Rybrevant, and seniors may see their out-of-pocket costs for these drugs decrease by $2 to $390 per average dose starting April 1st. The Centers for Medicare and Medicaid Services will invoice the drugmakers for these rebates beginning in 2025.