Drug Price Relief Coming
By LindaOH
@LindaOHio (222285)
United States
October 9, 2022 6:05am CST
President Biden recently signed legislation which will offer some pricing relief for prescription drugs.
For the first time Medicare must negotiate with drug companies for lower prices and penalizes those that raise their prices faster than inflation.
Beginning in 2023 a $35 monthly cap will take effect on insulin costs. This is huge!
Beginning in January, 2024, for those enrolled in Medicare Part D prescription plans, most vaccines will be free.
Beginning in 2025 those with Medicare drug plans will have an annual out-of-pocket drug cost capped at $2,000.
This law will save billions for seniors, taxpayers and Medicare.
AARP (American Association of Retired Persons) has been working on leading the fight for this legislation for the past 60 years. Will this new law affect you in a positive way? What are your thoughts on this?
Photo Credit: Pixabay
22 people like this
11 responses
@FourWalls (86615)
• United States
9 Oct 22
I’m glad that these things are getting better. Ford the most part, it does not affect me personally because I get most of my medication from the VA. However, it isn’t free, meaning my tax money is paying for it. So if it’s cheaper for the VA to get those medications for the thousands of veterans who need them, then that means they can put that money elsewhere for treatment.
3 people like this
@LindaOHio (222285)
• United States
10 Oct 22
Yes, you are correct. My hubs has one prescription that's over $400 for 3 months. We will reach the $2,000 quickly.
2 people like this
@LindaOHio (222285)
• United States
9 Oct 22
Yes, it's been a long time coming. Thank you for your comments.
2 people like this
@celticeagle (189820)
• Boise, Idaho
9 Oct 22
I am seeing a bit of a price hike on brand name prescriptions for next year. Not bad though. I am sure glad that there is this price for insulin now. I know a couple of people who use it and it was real hard for them in past years.
2 people like this
@LindaOHio (222285)
• United States
10 Oct 22
Yes, insulin users should find a big difference in pricing.
1 person likes this
@celticeagle (189820)
• Boise, Idaho
10 Oct 22
@LindaOHio ......That will sure be nice.
1 person likes this
@Jenaisle (16568)
• Philippines
10 Oct 22
That's such wonderful news. I do hope we would have the same law with the same benefits in our country. We do have discounts for seniors and the disabled, for all services, but It should be increased to at least 30% because we have been paying our taxes to the government since the moment we started working.
2 people like this
@RasmaSandra (97957)
• Daytona Beach, Florida
9 Oct 22
And for this even though it is very good news for those who need mediation I say thank you Lord that I do not need medication of any kind, My mom was the same way we had a medicine cabinet with the usual aspirin, cold relief and so on,
2 people like this
@LindaOHio (222285)
• United States
10 Oct 22
You are so fortunate not to be on any meds. Insulin users will probably benefit the most.
1 person likes this
@TheHorse (238284)
• Walnut Creek, California
10 Oct 22
@LindaOHio We'll see what happens. My meds are not that expensive right now. But that could change over time.
2 people like this
@LindaOHio (222285)
• United States
11 Oct 22
@TheHorse Yes, when you're as old as we are, you have a whole pharmacy of pills.
@LindaOHio (222285)
• United States
10 Oct 22
Yes, we were too. Thanks for stopping by.
1 person likes this
@LindaOHio (222285)
• United States
10 Oct 22
You are very lucky. Yes, many people will benefit.
2 people like this
@wolfgirl569 (135643)
• Marion, Ohio
9 Oct 22
Its a start at least. But we should have better for everyone. If those on congress were not allowed to own stock in all of this things would be different. Lobbying them would be less productive as they would not be making money from stock.
1 person likes this
@LindaOHio (222285)
• United States
10 Oct 22
You're right. More can be done; but especially for insulin users, this will be huge.
1 person likes this
@dgobucks226 (37621)
•
15 Oct 22
That is money well spent and which will directly help Americans who are struggling. A much better focus than destroying the oil industry which despite what climate changers say, is necessary for a strong economy and lower costs on everyday necessities.
1 person likes this
@LindaOHio (222285)
• United States
16 Oct 22
Yes, we're hoping that it all works out for the best.
1 person likes this
@freelancermariagrace (29342)
• Philippines
10 Oct 22
That’s great news! A big help to those people who are taking insulin 
1 person likes this
@LindaOHio (222285)
• United States
10 Oct 22
Yes. The insulin prices were out of sight.
1 person likes this
@CarolDM (203396)
• Nashville, Tennessee
10 Oct 22
@LindaOHio Many really need this help.
1 person likes this
