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Biden Administration to Release Preliminary List of $2 Generic Drugs for Medicare Recipients, Saving Seniors $1.5 Billion Starting 2027

Oct 9, 2024, 10:06 AM

The Biden administration is set to release a preliminary list of generic drugs that will be available to Medicare recipients for no more than $2. This initiative is part of a broader effort to make lifesaving medications more affordable, particularly for seniors. The administration previously announced that it would allow Medicare to negotiate drug prices, which is expected to save seniors approximately $1.5 billion in the upcoming year. The list of $2 generic drugs is anticipated to be implemented starting in 2027, as reported by various sources including Axios and Reuters.