The Centers for Medicare and Medicaid Services on Tuesday announced lower prices on 15 costly prescription drugs under Medicare, including Ozempic and Wegovy.

The prescription drug legislation in the Inflation Reduction Act of 2022 — backed by AARP — directed the Department of Health and Human Services to work with pharmaceutical companies to secure reduced prices on 10 widely used, brand-name medications that are expensive and lack generic or biosimilar alternatives.

Medicare spending reached $744 billion in 2022, up from $200 billion in 2000, representing an average annual growth rate of 6.3%, according to a recent KFF report. “Growth in total Medicare spending has been driven in part by an increase in the number of ...

WASHINGTON -- The federal government announced a large hike in Medicare premiums Friday night, blaming the pandemic but also what it called uncertainty over how much it may have to be forced to pay for a pricey and controversial new Alzheimer's drug, CNN ...

The Centers for Medicare and Medicaid Services has confirmed the standard monthly premium will rise to $202.90 next year.