Summary

The Biden administration announced that Medicare will negotiate lower prices for 15 drugs, including Ozempic and Wegovy, under the Inflation Reduction Act, with changes set to take effect in 2027.

These drugs, which treat diabetes, weight loss, and other conditions, cost Medicare $41 billion from late 2023 to 2024.

This effort builds on prior negotiations for 10 drugs, saving money for seniors and taxpayers.

Other provisions include $35 insulin caps, free vaccines, and a $2,000 annual out-of-pocket limit for Medicare Part D enrollees.