HHS Hosts Roundtable to Educate Consumers on Biden-Harris Administration's Lower Cost Prescription Drug Law

HHS Secretary Xavier Becerra, along with other senior leaders, hosted a roundtable with health care and consumer advocacy organizations to discuss how to educate consumers about the benefits of the Inflation Reduction Act, President Biden's historic lower cost prescription drug law. The participants discussed plans to raise awareness about the new Medicare prescription drug benefits during the Medicare Open Enrollment period, which began on October 15 and runs through December 7. Key efforts include engaging seniors and people with disabilities to ensure they take advantage of the law's benefits, such as receiving preventive adult vaccines at no cost and capping the cost of covered insulin at $35 per month.

Key Takeaways:

• Challenges in educating consumers about the law's benefits, including language access and prioritizing low-income seniors and those with limited English proficiency, were discussed by participants.
• The roundtable also touched on the expansion of the Extra Help program, which will provide full benefits, including no premium, no deductible, and fixed copayments for select drugs, to certain people with Medicare with limited resources in 2024.
• Participants discussed the recent progress made on Medicare drug pricing negotiations, including the announcement of the first ten selected drugs in August and the recent agreements signed by all ten drug companies to begin negotiations.
• Organizations also discussed efforts to reach people who may have lost Medicaid coverage but may now be eligible for a different type of coverage, such as Medicare or Marketplace coverage.
• HHS leaders highlighted new benefits taking effect in 2024, including eliminating cost-sharing for people with Medicare prescription drug coverage who fall into the catastrophic phase of the drug benefit.

Statistics:

• The Medicare Open Enrollment period began on October 15 and runs through December 7.
• 10 drugs were selected for negotiation under the Medicare drug pricing negotiations in August.
• 10 drug companies signed agreements to begin negotiations on the selected drugs.
• $35 per month: the capped cost of covered insulin for those with Part D coverage.
• 2024: the year when the Extra Help program will be expanded to provide full benefits to certain people with Medicare with limited resources.

Sources:

• U.S. Department of Health and Human Services
• U.S. Department of Health and Human Services [Category: Managed Health Care, Health Care, Events]
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