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Sharing a portion of negotiated rebates at the pharmacy counter could save seniors in Medicare with diabetes more than $350 annually, according to a new analysis from IHS Markit. The data also show sharing negotiated rebates could save Medicare nearly $1000 annually for every senior taking diabetes medication and reduce total health care spending by approximately $20 billion over the next ten years.
“Robust competition and choice in Medicare Part D has led to expanded coverage and stable premiums, but more needs to be done to improve affordability and predictability for seniors,” said Stephen J. Ubl, president and CEO of the Pharmaceutical Research and Manufacturers of America (PhRMA), which commissioned the study. “Sharing negotiated rebates would lower out-of-pocket costs for seniors and result in significant savings across the Medicare program.”NEXT ARTICLE
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