Health Care & Hospital Law,
Constitutional Law
Sep. 6, 2023
Inflation Reduction Act empowers negotiations for Medicare cost reduction
The Inflation Reduction Act gives the federal government the power to negotiate the price of certain drugs for Medicare beneficiaries but faces constitutional challenges from pharma companies.
Anne Schneider
Associate Attorney
Fenton Law Group LLP
Phone: (310) 444-5244
The Inflation Reduction Act (H.R.5376) (“the Act”) was signed into law by President Biden on Aug. 16, 2022. The Act gives the federal government the power to negotiate the price of certain drugs for Medicare beneficiaries. The Act has the effect of lowering the costs of prescription drugs to Medicare beneficiaries, and to the federal government. Some of the key provisions of the Act are as follows:
● The federal government can negoti...
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