Despite federal efforts, drug prices may not drop much

Despite federal efforts, drug prices may not drop much

Three years after Congress passed the Inflation Reduction Act in 2022, a significant change from that law will go into effect next month. The law gives the federal Centers for Medicare and Medicaid Services (CMS) the right to negotiate the prices of high-cost prescription drugs and forces drug companies to give back money when they raise prices faster than inflation, as The Commonwealth Fund explained. The medications subject to negotiations are…