New Drug Pricing Proposals Promise Huge Savings Potential
Potential Savings and Benefits
The potential savings from these proposals are significant. For instance, a study by the Congressional Budget Office estimated that allowing Medicare to negotiate drug prices could save the federal government approximately $456 billion over ten years2. These savings could translate to lower premiums and out-of-pocket costs for consumers. Additionally, by fostering competition, the market could see a wider range of affordable options, providing patients with more choices tailored to their needs.