Sherri Williams may no longer see as many patients who don’t take their prescription medication because they can’t afford it. On Friday, the Miramar nurse practitioner applauded the Biden administration’s agreement with drugmakers to lower prices on the 10 costliest prescription drugs under Medicare. “I have seen patients come back and forth, in and out of the emergency department, due to the cost of their medication,” said Williams, who previously worked as an ER nurse.
“They simply just can’t afford it. So, guess what they do? They stop taking it.” In a news conference in Miramar Friday, local practitioners, pharmacists, and patients celebrated the federal government’s first-ever drug-pricing negotiations.
The Biden administration on Thursday unveiled the results of the landmark agreement between Medicare and pharmaceutical companies that could help ease the financial burden on an estimated 1 in 7 older adults in the U.S. struggling to pay for their medications.
The new lower prices, applicable for people on Medicare and Medicare Advantage plans, won’t take effect until 2026. Administration officials said the new negotiated prices are projected to save Medicare enrollees $1.5 billion in reduced cost sharing and out-of-pocket costs in the first year.
As part of the government’s negotiations, seniors are expected to see lower out-of-pocket costs for the 10 popular drugs used by millions of people on Medicare, including blood thinners, diabetes drugs and .