Analysis: Medicare’s drug price negotiation – Why it’s a big deal

For the first time, Medicare has negotiated prices with pharmaceutical companies. Prescription drug costs are a significant driver of rising healthcare costs in Connecticut, rising 7.7%  from 2021 to 2022, more than any other category. Medicare covers one in five Connecticut residents, mainly seniors and people with disabilities, and is the biggest purchaser of drugs in the US. The US pays the highest prices for drugs, averaging 2.8 times other countries. So, this is a very big deal. Read more