You May Pay Less for These 43 Drugs Thanks to Biden’s Inflation Reduction Act

Discover how the Inflation Reduction Act is lowering costs on essential medications.

Elderly woman at pharmacy
Updated July 11, 2024
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You may have heard about the Inflation Reduction Act (IRA), passed by Congress and signed into law by President Biden in 2022.

The act covers several issues that could lower your financial stress, especially if you use Medicare to pay for your prescription drugs.

Find out more about the program and the 43 drugs that you could save money on until December 31, 2023.

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How does the IRA affect drug prices?

Rawpixel.com/Adobe sick woman taking pills from bottle

The IRA included a provision to help reduce the cost of prescription medication for Medicare recipients.

The new law requires drug companies to pay a rebate to Medicare if they raise the cost of a drug higher than the rate of inflation to discourage companies from raising prices and then passing those costs to consumers.

As a consumer, keep an eye on the out-of-pocket costs for these drugs covered under Medicare Part B, as they may be adjusted to comply with the new laws and keep prices in check or help seniors avoid wasting money.

So, which drugs are covered until the end of the year? Check this list to see if your prescriptions are on it.

Abelcet

Eric Hood/Adobe pills spilling out of prescription bottle

Abelcet is an antibiotic used to treat fungal infections.

Adcetris

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Adcetris is used to treat Hodgkin lymphoma, which is a cancer in your blood.

Aggrastat

Eric Hood/Adobe various prescription capsules on table

Aggrastat can be used to prevent blood clots or heart attacks for some patients.

Akynzeo

Andy Dean/Adobe pills scattered on table with prescription bottles

Chemotherapy patients can use Akynzeo to help prevent nausea and vomiting due to treatment.

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Atgam

18percentgrey/Adobe patient reading label on prescription drugs

Atgam is used to treat blood disorders, helps bone marrow make new cells, and can prevent the body from rejecting a kidney transplant.

Aveed

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Aveed is used to treat men with little or no testosterone.

Bicillin C-R

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Bicillin C-R is used to treat bacterial infections in patients, particularly for moderately severe or severe infections.

Bicillin L-A

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Bicillin L-A is prescribed to treat upper respiratory infections or syphilis.

Blincyto

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You may be prescribed Blincyto to treat acute lymphoblastic leukemia, a form of cancer in the blood and bone marrow.

Carnitor

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Patients are prescribed Carnitor to treat carnitine deficiency, which stops nutrients from reaching your blood cells.

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Crysvita

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Crysvita treats a disorder that prevents patients from retaining phosphorus.

Cuvitru

Pormezz/Adobe hand popping pills from leaflet

Cuvitru treats patients with immunodeficiency issues.

Cytogam

okskaz/Adobe leaflets having colorful viral capsules

Cytogam treats diseases that can arise after the transplantation of organs.

Enjaymo

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Enjaymo is used to treat blood-cell issues related to cold agglutinin disease (CAD), which is a rare autoimmune disease.

Flebogamma DIF

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Flebogamma DIF is used to treat patients with autoimmune disease.

Folotyn

Andy Dean/Adobe stethoscope prescription pills at table

Folotyn is used to treat patients with lymphoma.

Fragmin

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Fragmin is used as a blood thinner for patients or to treat deep vein thrombosis.

Gammagard S/D

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Gammagard S/D is used to treat immunodeficiency and prevent infections in leukemia patients.

Gammaplex

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Gammaplex is for patients who are dealing with immunodeficiency issues.

Humira

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Humira is used to treat issues such as rheumatoid arthritis, Crohn's disease, or ulcerative colitis.

Imlygic

Ambient Ideas, LLC/Adobe prescription capsules with stethoscope

Imlygic is used to treat advanced melanoma, which is skin cancer.

Infugem

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You may take Infugem to treat different types of cancer.

Kyprolis

Pormezz/Adobe woman popping capsules in hand

Kyprolis is used to treat patients with multiple myeloma.

Leukine

Lena Ivanova/Adobe man handling daily use pills

Leukine is used to increase white cell production to boost immune systems hurt by cancer treatment.

Lupron Depot-Ped

tab62/Adobe prescription bottles on stainless steel background

Lupron Depot-Ped is used to treat precocious puberty symptoms in children.

Minocin

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You might be prescribed Minocin to treat bacterial infections.

Mononine

ACphoto/Adobe prescriptions tablets on white background

Doctors prescribe Mononine as a clotting factor for patients with hemophilia B.

Nipent

fizkes/Adobe african american woman holding pills jar

Nipent is a form of chemotherapy, particularly for leukemia patients.

Nplate

mordecio/Adobe capsules pouring out of a bottle

Nplate is used to treat immune thrombocytopenia, which is a type of platelet disorder.

Oncaspar

Sherry Young/Adobe prescription pad and colorful medications

Oncaspar is prescribed to treat leukemia.

Padcev

orchidflower/Adobe healthcare worker pouring medicines

Padcev is used to treat advanced bladder cancer.

Panhematin

Eric Hood/Adobe stethoscope with prescription bottles in background

Panhematin can treat symptoms of acute intermittent porphyria, which can affect the oxygen in your body.

Prolia

Krakenimages.com/Adobe woman holding birth control pills

Prolia is used to treat post-menopausal women with osteoporosis.

Rybrevant

neirfy/Adobe white pills on background

You might be prescribed Rybrevant to treat non-small cell lung cancer.

Signifor LAR

Rawf8/Adobe Pills on blank prescription

This drug is used to treat Cushing Disease, which is a pituitary disorder.

Synribo

Andy Dean/Adobe medicine prescription bottle with stethoscope

You may be prescribed Synribo to treat leukemia.

Tezspire

fizkes/Adobe physician giving medicines to senior man

Tezspire is used to treat patients with severe asthma.

Trogarzo

methaphum/Adobe sick senior man taking pills

Trogarzo is used to treat patients with HIV-1.

Vabomere

Andy Dean/Adobe medicine bottles with stethoscope

Vabomere is prescribed to treat urinary tract infections in patients.

Varizig

bm_photo/Adobe pill organizer with variety of pills and supplement

Varizig is for patients with post-exposure prophylaxis of varicella (chickenpox).

Vectibix

Piman Khrutmuang/Adobe colorful prescription drug leaflets

Vectibix can be used for patients with metastatic colorectal cancer.

Vivitrol

zimmytws/Adobe pills in orange prescription bottle

Vivitrol is used to treat patients with alcohol dependency.

Xiaflex

Dumitru/Adobe blue and white capsules on table

You may be prescribed Xiaflex for Dupuytren’s contracture, which is thickening tissue in your hand, or Peyronie’s disease for men.

Bottom line

Dragana Gordic/Adobe female pharmacist checking medicine on computer

You may be on a tight budget or are worried about spending too much on prescription drugs. Help yourself by learning some smart shopping hacks to see if you can get an additional discount for your medications.

You can also find other ways to save money, such as using coupons or other manufacturer discounts for your medications.

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Author Details

Jenny Cohen

Jenny Cohen is a freelance writer who has covered a bit of everything, from finance to sports to her favorite TV shows. Her work has been featured in The Wall Street Journal, USA Today, and FoxSports.com.