29 January 2024 - Medicare participants will get insight this year into how much the prices of certain drugs will drop under Government plans to improve access to and lower the cost of medications.

As part of President Joe Biden's Inflation Reduction Act, the Centers for Medicare & Medicaid Services (CMS) has been given the freedom to directly negotiate the prices of selected drugs with manufacturers. The CMS has selected 10 drugs used to treat a variety of illnesses and conditions after cost increases in recent years.

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