Two big changes are coming to help reduce the cost of some life-saving drug prescriptions, but they won't take effect right away. So we've rounded up some programs that help cut prescription costs.
"I couldn't afford to pay six hundred and something dollars for one prescription when I'm on six or seven other prescriptions. Six hundred dollars for one medicine is not good, it's not good," said one senior.Many seniors struggle with the high cost of prescription medications they need.
"I go over my drug plan consistently, so I always go into just sort of a donut hole," said senior Elvira Quinones Reyna. The Inflation Reduction Act enabled Medicare to start negotiating prices for the ten costliest and mostly widely used drugs, including Eliquis, Jardiance, and Xarelto, which the White House says cost Medicare Part D enrollees about $4,500 a year. They say prices are expected to be 60% to 70% lower, but won't take effect until 2026.
And in Texas, a new state law allows the Texas Department of Health and Human Services to begin the process of importing prescriptions from Canadian wholesalers, which offer them much cheaper. The program is expected to be up and running next year.
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