Dear Friend,

I am reaching out to share some good news that will benefit many of the seniors in our district. Recently, the Department of Health and Human Services (HHS) announced the first ten drugs that were selected for Medicare price negotiation under the Inflation Reduction Act. Negotiations for the first group of selected drugs will begin this year, with negotiated prices going into effect in 2026. 

These ten drugs are among those with the highest total spending in Medicare Part D. In 2022 alone, they cost seniors an estimated $3.4 billion in out-of-pocket costs. Millions of Medicare beneficiaries depend on these vital medications to treat life-threatening conditions including diabetes, heart failure, and cancer, but many struggle to access their medications due to prohibitive costs.

With this new policy, an estimated 342,000 seniors in Illinois will save money on their out-of-pocket costs, which will ultimately save money for American taxpayers. 

My colleagues and I have long advocated for reforms to make prescription drugs more affordable and eliminate the need for seniors to choose between life-saving medications and other necessities. While I’m proud to see these investments are paying off, there’s still more work to be done. I’m committed to fighting to protect and expand Medicare, and pursuing sensible policies that will lower health care costs for all Americans.

Sincerely,

Bill Foster
Member of Congress