08/23/2024
The Inflation Reduction Act (IRA) includes a long list of provisions, one of which affect prescription drug pricing.
It seeks to reduce costs for Medicare recipients by:
✔️ Enabling Medicare to negotiate the prices of certain drugs,
✔️ Instituting new inflationary rebates under Medicare,
✔️ Cap Medicare Part D costs at $2,000 a year, and
✔️ Imposing a non-deductible excise tax on manufacturers, producers, or importers that fail to enter into negotiated drug pricing agreements.
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