U.S. to impose Inflation fines on Medicare Drugs

Photo by: WDAY Radio Staff
Photo by: WDAY Radio Staff

(Washington, DC) -- The federal government says it's subjecting 27 drugs to inflation penalties.

The Biden administration made the announcement Wednesday, meaning people on Medicare will pay less out of pocket starting April 1st.

The Inflation Reduction Act signed by President Biden includes a provision that penalizes drugmakers for raising prices faster than inflation for people with disabilities or those 65 and older who are on Medicare.

Drugs on the list include the arthritis drug Humira and the cancer therapies Yescarta and Padcev.