The Department of Health and Human Services has unveiled the first set of Part B prescription drugs that will be subject to Medicare inflation rebates because they raised their prices faster than inflation.
Under prescription drug law, prescription drug companies have to pay back Medicare if they raise prices on seniors at a higher rate than inflation.
From next month, some Medicare beneficiaries will have lower coinsurance for the 27 prescription drugs that raised prices faster than inflation in the last quarter of 2022. Senior citizens' out-of-pocket costs for these drugs will decrease by upto $390 per average dose starting April 1, according to HHS.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.