Drugs will have a lowered coinsurance rate for 822,000 enrollees.
The Department of Health and Human Services (HHS) announced that 54 drugs have been added to Medicaid’s Drug Rebate Program, offering lower coinsurance rates for the drugs beginning this week. These drugs are used to treat conditions like cancer, osteoporosis, and pneumonia, and over 822,000 Medicaid enrollees have received prescriptions for these drugs.
The department reported that, under the Inflation Reduction Act’s Medicaid Prescription Drug Rebate Program, “Some people with Medicare who use these drugs in the last quarter of 2024 may save between $1 and $3,854 per day.”
The Medicaid Drug Rebate Program requires drug makers who raise the price of their drugs faster than the rate of inflation to send a portion of their profits to Medicaid, where the funding is used to reduce drug prices for Medicare enrollees.
As the Lord Leads, Pray with Us…
- For Secretary Becerra and HHS officials as they oversee the federal health department.
- For Administrator Brooks-LaSure as she heads the Centers for Medicare and Medicaid Services.
Sources: The Hill, Department of Health and Human Services
