The Inflation Reduction Act (IRA) authorizes the Secretary of the Department of Health and Human Services (HHS) to negotiate prices directly with participating manufacturers for selected drugs that have high total spending and are high expenditure, single source drugs without generic or biosimilar competition. Negotiations with participating manufacturers for the first group of selected drugs for initial price applicability year 2026 begin in 2023, with negotiated maximum fair prices going into effect in 2026. This Fact Sheet provides descriptive information on the use and out-of-pocket spending in calendar year 2022 for each of the drugs selected for negotiation for initial price applicability year 2026 under the Medicare Drug Price Negotiation Program. We examined the use of these 10 drugs and out-of-pocket spending on them for Medicare Part D enrollees overall, by low-income subsidy (LIS) status, by demographic characteristics, and by state of residence.
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