Medicare and pharms... thank you Joe Biden

[KentuckyWoman]

2023 vs 2024 Drug costs

A friend with United Healthcare Medicare Advantage PPO through UAW is ecstatic. Generics went from $15 to $0 and even the brand only expensive "specialty" meds went from $133 to $115 for 30 days. Another friend is on GE retiree Anthem Medicare PPO and is happy too. She takes several brand only drugs not avail on generic yet. Her 30 day cost will go from $40 to $28. Plus she'll get a card to spend down $300 for OTC. That's new.

In fact nearly everyone in my circle is thrilled with the updates for 2024 regarding meds. Only one expects higher costs and that's due to a particular med that seems to be having supply problems.

I'm not on an advantage plan so I buy an individual part D. My premiums will go up about 9% but the co-pays on meds has also gone down and will more than offset the increase in premiums.... assuming my meds stay the same.

***

If we would let Joe do for everyone's medical care costs what he's been able to do for pharms for seniors on medicare - this country would be in a much better place.

[RandomNumbers]

1. Yes - shout it from the rooftops

But hopefully a few seniors will notice on their own.

https://www.hhs.gov/about/news/2023/12/14/new-hhs-actions-and-research-highlight-how-president-bidens-administration-lowering-prescription-drug-costs.html

[Ms. Toad]

2. Not sure his actions resulted in a signficant reduction for this year.

Negotiations on the 10 drugs won't result in pricing adjustments this year.

I only recognize a few of the drugs eligible for rebates (so not commonly used drugs), many of those are eligible for a 1-2% rebate, and they weren't even announced until after prices were set for 2024 - so they couldn't have gone into the calculations for the coming year.

That isn't to say that Biden isn't doing good things for healthcare costs - he is. Just that what he is doing didn't impact this year's pricing.