Deal will cut prices of 10 of Medicare’s costliest drugs
UC economist says deal could results in huge savings for individuals
Americans with Medicare Part D prescription coverage and taxpayers are expected to save billions of dollars as a result of a deal the federal government struck with pharmaceutical companies, WLWT reported.
Erwin Erhardt
The government and pharmaceutical companies have agreed to reduce the prices of 10 of Medicare’s costliest drugs. The price cuts will take effect in 2026 and could lower costs for seniors by hundreds or even thousands of dollars a month.
“These are drugs that are used for more serious, very serious illnesses, actually — like blood cancer, heart disease, diabetes; arthritis is in there, too,” said Erwin Erhardt, PhD, an associate professor - educator in the economics department of the University of Cincinnati’s Carl H. Lindner College of Business.
Blood thinners Xarelto and Eliquis and diabetes drugs Jardiance and Januvia are among the drugs whose prices are slated to be cut.
“It's going to result, hopefully, in some huge savings for seniors 65 and older,” Erhardt said.
Featured image at top: A pharmacist explains a woman's prescription to her. Photo/Rhoda Baer, National Cancer Institute via Unsplash
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Deal will cut prices of 10 of Medicare’s costliest drugs
August 16, 2024
Americans with Medicare Part D prescription coverage and taxpayers are expected to save billions of dollars as a result of a deal the federal government struck with pharmaceutical companies, WLWT reported.
WCPO: UC economist says wages can’t keep up with inflation
March 22, 2022
Multiple disruptions to the U.S. economy are posing problems for consumers, according to Michael Jones, PhD, associate professor of economics at the University of Cincinnati Carl H. Lindner College of Business.
The benefits and downsides for 'forever renters'
May 29, 2024
A growing number of people expect to rent their entire lives instead of buying a home, which presents potential benefits and downsides for these “forever renters,” University of Cincinnati professors told Business Insider.