Cummings, Welch Propose Medicare Drug Negotiation Bill in Meeting with President
Today, Rep.
"The President has publicly supported allowing
"
The Members were joined by Dr. Redonda
In the meantime, prescription drug prices continue to skyrocket. Over the past decade, the prices of 90% of brand name drugs have doubled, and prescription drug spending reached
Currently,
High drug prices continue to stress the federal budget, particularly within
Americans overwhelmingly support negotiating authority for
Click here: https://democrats-oversight.house.gov/sites/democrats.oversight.house.gov/files/documents/Summary.pdf and see below to read a summary of the proposal Cummings and Welch presented to the President.
SUMMARY OF LEGISLATION
Allowing
Under current law, the Secretary of HHS is prohibited from negotiating lower drug prices on behalf of
The bill would strike the non-interference clause and direct the Secretary to negotiate lower prices with drug manufacturers that participate in
The bill also would direct the Secretary to establish a formulary to leverage the purchasing power of the government on behalf of Part D plans.
The
The bill would allow Part D plans to use additional benefit design and formulary tools to secure steeper discounts or rebates for beneficiaries.
The bill would establish a fallback process if negotiations with drug manufacturers are unsuccessful.
The bill would preserve critical protections for patient access by including in any formulary certain categories and classes of drugs that are protected under current law.
The bill would also require the inclusion of at least one drug to treat each clinical condition, as identified by the Secretary, and would preserve patient appeals processes for accessing drugs that are not covered by the formulary.
Restoring Low-Income Beneficiary Rebates
The bill would restore required drug rebates for low-income beneficiaries that were lost when
CBO projects that restoring these rebates for brand-name drugs would save taxpayers
Before Part D came into effect, people who were eligible for both
Drug manufacturers that participate in
As a result of shifting the drug benefits for these dual-eligible individuals from
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