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CNN CNN Newsroom Live June 4, 2024 08:47:00

If you look at this graph we have here, this one actually comes from a congressional investigation into drug prices. you can see how much those list prices have increased. now, because of this change, which goes into effect january 1st, companies that have raised the price of medicines a lot over time could actually end up paying medicaid for drugs, so losing money on those medicines. so by reducing the list prices by 70% or more, these companies are actually avoiding having to pay these rebates back to medicaid. some analysts put this at hundreds of millions of dollars of savings these companies will have. while across the board it s hoped that insulin prices are coming down for everyone, there s a lot going on beyond the surface here. our thanks to medical correspondent meg tirrell for that report. now to the college football playoffs here in the united states. the michigan wolverines have booked their ticket to the championship game with a thrilling win over the alabama crimson ....

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CNN CNN Newsroom Live June 4, 2024 07:56:00

Rebates back medicaid for drugs on which they have raised the price a lot over the years. insulin s have been going up for decades. if you look at this graph we have here, this one actually comes from a congressional investigation into drug prices and you can see how much those list prices have increased. because of this change, which goes into effect january 1st, companies that have raised the price of medicines a lot overtime can actually end up paying medicaid for drugs. so, losing money on those medicines. by reducing the list prices by 70% or more, these companies are actually avoiding having to pay these rebates back to medicaid. some analysts put this at hundreds of millions of dollars a year in savings. companies will have because they are reducing the list prices of their drugs. so, while across the board it is hoped that insulin prices are coming down for everyone, there is a lot going on beyond the surface here. 2024 is already proving to be incredibly lucky for one person ....

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CNN CNN Newsroom Live June 4, 2024 09:39:00

And now the reason that is actually happening is because of a biden administration 2021 law, american rescue plan act, essentially it changed the way drug markskers have to pay reba back to medicaid. insulin has been going up for decades. if you look at this graph, this one actually comes from a congressional investigation into drug prices, and you can see how much the list prices have increased. because of this change which goes in to effect january 1, companies that have raised the price of medicines could actually end up paying medicaid for drugs. so losing money on those medicines. so by reducing the list prices by 70% or more, these companies are actually avoiding having to pay these rebates back to medicaid. some analysts put this as hundreds of millions a year in savings the companies will have because they are reducing the list prices of their drugs. so while across the board it is hoped that insulin prices are ....

American Rescue Plan Act , Drug Prices , Those Medicines , January 1 , Insulin Prices ,

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