About Prescription Drug Pricing
Prescription drugs should be affordable — but patients increasingly face challenges getting medication at fair prices. California’s hospitals are committed to ensuring the availability of lifesaving and life-changing medication. More than 180 California hospitals participate in the federal 340B Drug Pricing Program, which provides discount drugs to low-income patients, while many others participate in group purchasing organizations to lower costs. Solutions to rising drug prices must address drivers of cost, like supply shortages and lack of competition, and increase transparency for drug manufacturers.
Medicare Reduces Coinsurance Amount for 41 Different Part B Drugs
What’s happening: Medicare temporarily reduced the coinsurance amount for 41 different Part B prescription drugs under the Inflation Reduction Act.
What else to know: Through June 30, the coinsurance amount is decreased from 20% to between 3.8% and 19.9%, depending on the drug.
President Biden Releases FY 2025 Budget Request
What’s happening: President Biden submitted his fiscal year (FY) 2025 budget request to Congress.
What else to know: The budget is a blueprint of the administration’s priorities and is not legislation.