The Washington Report

August 21, 2024

Note to Subscribers

While we do our best to provide timely updates, it is possible that the information shared in the newsletter may change after our publication deadline.

Legislative

 

Congress Adjourned for Summer Recess
Congress has adjourned for its summer recess. The House and Senate are scheduled to reconvene after the Labor Day holiday.

Health

 

CMS Announces Medicare Drug Price Negotiation Agreement
On August 15, 2024, the Department of Health and Human Services’ Centers for Medicare & Medicaid Services (CMS) announced that it reached agreement for lower prices for all 10 drugs selected for negotiations. (In August 2023, the agency announced the first 10 drugs covered under Medicare Part D selected for the first cycle of negotiations.) The new prices will go into effect for people with Medicare Part D prescription drug coverage beginning January 1, 2026. CMS also stated it will “select up to 15 more drugs covered under Part D for negotiation for 2027 by February 1, 2025. CMS will select up to 15 more drugs covered by Part B or Part D for 2028, and up to 20 more Part B or Part D drugs for each year after that, as required by the Inflation Reduction Act.”

The news release is available here.

The Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026 Fact Sheet is available here.