HHS announces savings on 43 prescription drugs for Medicare Part B beneficiaries

Key takeaways:

• Medicare Part B beneficiaries may pay lower coinsurance on 43 drugs that had prices rise faster than the rate of inflation in a benchmark quarter.
• The drugs include acetaminophen, nitroglycerin and more.

HHS has released a list of 43 prescription drugs for which Part B beneficiary coinsurances may be lower starting July 1.

“The Medicare Prescription Drug Inflation Rebate Program is a critical way to address long-term price increases by drug companies, and CMS is continuing our work to make prescription drugs more affordable for people with Medicare,” CMS Administrator Chiquita Brooks-LaSure said in a press release. “CMS is working tirelessly to ensure timely implementation of the Inflation Reduction Act to strengthen Medicare now and in the future.”

Because of the Inflation Reduction Act, people with Medicare could pay a lower coinsurance for some Part B drugs if their price increases faster than the rate of inflation, according to the release. Also, if this happens, HHS Secretary Xavier Becerra said in a press release said that manufacturers of qualifying drugs must pay rebates to Medicare.

“And, Medicare now has the authority to negotiate lower prescription drug prices for the first time,” Becerra said.

Some people who have Medicare Part B could pay lower coinsurance on 43 drugs that had prices rise faster than the rate of inflation in a benchmark quarter. Depending on their individual coverage, people who take these drugs may save between $1 and $449 per average dose between July 1 and Sept. 30. The drugs are as follows:

• Abelcet;
• Adcetris;
• Aggrastat;
• Akynzeo;
• Atgam;
• Aveed;
• Bicillin CR;
• Bicillin L-A;
• Blincyto;
• Carnitor;
• Crysvita;
• Cuvitru;
• CytoGam;
• Enjaymo;
• Flebogamma DIF;
• Folotyn;
• Fragmin;
• Gammagard S/D;
• Gammaplex;
• Humira;
• Imylgic;
• Infugem;
• Kyprolis;
• Leukine;
• Lupron Depot-ped;
• Minocin;
• Mononine;
• Nipent;
• Nplate;
• Oncaspar;
• Padcev;
• Panhematin;
• Prolia;
• Rybrevant;
• Signifor LAR;
• Synribo;
• Tezspire;
• Trogarzo;
• Vabomere;
• Varizig;
• Vectibix;
• Vivitrol; and
• Xiaflex.

The HHS announcement came days after Merck sued the federal government over the plan to negotiate Medicare drug prices.

In a complaint filed June 6, the drugmaker said that the program, which was laid out in the Inflation Reduction Act, does not involve genuine negotiation, but rather that the HHS chooses drugs to be included and then names the price. The complaint said it is “tantamount to extortion” and violates the Constitution.

Editor’s note: This story was updated with the list of drugs on CMS’ website.

References:

• 2023 ASP drug pricing files. https://www.cms.gov/medicare/medicare-part-b-drug-average-sales-price/2023-asp-drug-pricing-files. Accessed June 9, 2023.
• Biden administration announces savings on 43 prescription drugs as part of cost-saving measures under President Biden’s inflation reduction act. https://www.hhs.gov/about/news/2023/06/09/biden-administration-announces-savings-43-prescription-drugs-part-cost-saving-measures-president-bidens-inflation-reduction-act.html. Published June 9, 2023. Accessed June 9, 2023.
• Inflation Reduction Act continues to lower out-of-pocket prescription drug costs for drugs with price increases above inflation. https://www.cms.gov/newsroom/press-releases/inflation-reduction-act-continues-lower-out-pocket-prescription-drug-costs-drugs-price-increases. Published June 9, 2023. Accessed June 9, 2023.
• Merck and co. vs Xavier Becerra. https://www.merck.com/wp-content/uploads/sites/5/2023/06/Merck-Complaint.pdf. Accessed June 9, 2023.

• Reduced coinsurance for certain Part B rebatable drugs under the Medicare Prescription Drug Inflation Rebate Program. https://www.cms.gov/files/document/reduced-coinsurance-part-b-rebatable-drugs-6823.pdf. Accessed June 15, 2023.