Colorado

 

How The Inflation Reduction Act Lowers Prescription Drug Costs for Coloradans

In 2022, Congressional Democrats passed and President Biden signed into law the Inflation Reduction Act, which allows Medicare to negotiate lower drug prices, limits annual out-of-pocket prescription drug costs, caps the price of insulin at $35 per month, offers no-cost vaccines to seniors, and more. The new law also holds accountable drug companies that hike the price of their drugs faster than inflation by requiring them to pay a rebate to Medicare.

 

The impact of lower prescription drug costs thanks to the Inflation Reduction Act will be felt by thousands of Coloradans.

State Fact Sheet

 

Learn more about how the Inflation Reduction Act will help Coloradans save on health care costs

Medicare Negotiations

Helping over 101,000 Coloradans who pay hundreds or thousands out of pocket for the first 10 drugs Medicare is currently negotiating lower prices for.

$2,000 Cost Cap

220,050 Coloradans seniors will save an average of $451.28 thanks to the Inflation Reduction Act’s $2,000 annual out-of-pocket cost cap, effective in 2025.

$35 Insulin Cost Cap

Helping 16,085 Coloradans who use insulin.

Negotiating lower prices on certain popular high-cost drugs will help:

  • 43,000 Coloradans who pay an average of $514 out-of-pocket per year for Eliquis, sold by Bristol Myers Squibb, to treat blood clots. 
  • 15,000 Coloradans who pay an average of $322 out-of-pocket per year for Jardiance, sold by Boehringer Ingelheim, to treat diabetes.
  • 21,000 Coloradans who pay an average of $447 out-of-pocket per year for Xarelto, sold by Johnson & Johnson, to treat blood clots.
  • 6,000 Coloradans who pay an average of $361 out-of-pocket per year for Januvia, sold by Merck, to treat diabetes. 
  • 5,000 Coloradans who pay an average of $308 out-of-pocket per year for Farxiga, sold by AstraZeneca to treat diabetes.
  • 4,000 Coloradans who pay an average of $440 out-of-pocket per year for Entresto, sold by Novartis, to treat heart failure. 
  • 1,000 Coloradans who pay an average of $1,221 out-of-pocket per year for Enbrel, sold by Amgen, to treat arthritis and psoriasis.
  • Coloradans who pay an average of $5,307 out-of-pocket per year for Imbruvica, sold by AbbVie, to treat blood cancers.
  • Coloradans who pay an average of $2,620 out-of-pocket per year for Stelara, sold by Johnson & Johnson, to treat psoriasis and Crohn’s disease.
  • 6,000 Coloradans who pay an average of $124 out-of-pocket per year for Fiasp/NovoLog, sold by Novo Nordisk, to treat diabetes.

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