Disclaimer: This Inside South Florida segment is sponsored by Protect Our Care. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
For the first time, Medicare has been empowered to negotiate lower drug prices for seniors, a significant step toward reducing healthcare costs. Recently, the Centers for Medicare & Medicaid Services (CMS) announced lower prices for 10 essential medications under the new Medicare Drug Price Negotiation Program. Inside South Florida caught up with Leslie Dach, founder of Protect Our Care, to discuss how this initiative is making life-saving medications more affordable for seniors.
Leslie Dach explained that over 5 million seniors in Florida rely on Medicare, and many struggle to afford necessary medications. "Drug companies charge Americans three to four times more for the same medication than they do in Canada or Europe, and that needs to stop," Dach said. Thanks to the Inflation Reduction Act, Medicare now has the authority to negotiate prices on 80 essential drugs over the next few years. The first round of negotiations has already begun, and Dach highlighted that savings from just 10 drugs will save seniors $1.5 billion annually in out-of-pocket expenses.
The initial 10 drugs selected for price negotiations include treatments for diabetes, heart failure, blood clots, and autoimmune disorders. "People taking drugs like Eliquis, Jardiance, and Xarelto will benefit from these new lower costs," Dach noted. Seniors can visit medicare.gov or protectourcare.org for a full list of the medications involved in this first round.
The Medicare Drug Price Negotiation Program is part of a broader effort to reduce healthcare costs for seniors. "Starting next year, out-of-pocket costs for Medicare prescriptions will be capped at $2,000 annually," Dach said, adding that insulin prices will be limited to $35 per month. These initiatives are designed to provide financial relief for millions of seniors who struggle to afford costly medications, particularly those managing chronic conditions.
For more details about the Medicare Drug Price Negotiation Program, seniors can visit protectourcare.org or medicare.gov. Additionally, with Medicare's annual re-enrollment period approaching, Dach emphasized the importance of staying informed to ensure seniors take advantage of all available savings.
