Prices Increased Faster Than Inflation for Half of all Drugs Covered by Medicare in 2020

(By Juliette Cubanski and Tricia Neuman for Kaiser Family Foundation published February 25, 2022)

While momentum to enact the Build Back Better Act (BBBA) has stalled in Congress, public support for legislation to lower prescription drug costs is likely to persist, particularly in light of concerns about rising prices due to inflation. The House-passed BBBA would allow the federal government to negotiate drug prices in Medicare, cap Medicare beneficiaries’ out-of-pocket drug spending under Part D, cap monthly insulin costs, and require drug companies to pay rebates to the federal government when annual increases in drug prices for Medicare and private insurance exceed the rate of inflation. Continue reading here…

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