Common medications for diabetes, heart disease and cancer are getting cheaper for thousands of Pennsylvania seniors with Medicare Part D prescription plans.
The lower prices for 10 brand-name medications negotiated between the federal government and drug companies took effect starting Jan. 1.
Aging residents and advocates hope this will make prescriptions more accessible and affordable for seniors who live on low fixed incomes and find themselves choosing between their medications and other daily expenses.
“Our neighbors, loved ones, are being forced to make impossible choices,” …
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Common medications for diabetes, heart disease and cancer are getting cheaper for thousands of Pennsylvania seniors with Medicare Part D prescription plans.
The lower prices for 10 brand-name medications negotiated between the federal government and drug companies took effect starting Jan. 1.
Aging residents and advocates hope this will make prescriptions more accessible and affordable for seniors who live on low fixed incomes and find themselves choosing between their medications and other daily expenses.
“Our neighbors, loved ones, are being forced to make impossible choices,” said Bill Johnston-Walsh, state director at AARP Pennsylvania. “Imagine having to decide between filling your gas tank or filling a prescription. This is the stark reality for way too many Pennsylvanians.”
More than 455,000 older residents in the state take one or more of the drugs marked for price reductions, according to AARP Pennsylvania.
The 2022 Inflation Reduction Act enabled the Medicare insurance program for people 65 and older to negotiate medication prices directly with drug companies in an effort to reduce costs for seniors as well as the federal government.
The first 10 drugs negotiated under the new law included Eliquis, used to prevent blood clots; Januvia, commonly prescribed for diabetes; Imbruvica, a treatment for blood cancers; and others.
Together, these drugs accounted for $56.2 billion in Medicare Part D covered prescription drug costs in 2023, according to the Centers for Medicare and Medicaid. Meanwhile, enrollees paid another $3.9 billion for their out-of-pocket share of the medication costs.
Pennsylvanians with Part D plans who rely on these medications are expected to see their out-of-pocket costs drop by 53% on average in 2026, according to a new AARP report.
“That’s real relief for older adults who have been stretched to the breaking point by high drug prices for far too long,” said Nancy LeaMond, AARP’s executive vice president and chief advocacy and engagement officer.
Aging advocates say that a new 2026 annual cap on out-of-pocket costs for Medicare enrollees will help keep costs down. Once seniors hit a $2,100 maximum, they will not have to pay anything for covered medications for the rest of the year.
