Sen. Franken Fights to Keep Health Care Costs in Check for Minnesota Families
As Republicans Prepare to
As Republican lawmakers gear up to gut the Affordable Care Act (ACA) with no realistic replacement plan--a move that would pull the rug out from 20 million Americans who gained health coverage through the ACA--Sen.
On Wednesday, the
"Since the Affordable Care Act was signed into law, 20 million Americans have gained health insurance, insurers can't discriminate against people with pre-existing conditions, women are no longer charged more than men for coverage, we eliminated annual and lifetime caps so if you get sick you won't be kicked off your insurance plan, and young people can stay on their parents' plans till age 26. These policies have improved the lives of children, moms, dads, grandparents, and people from all walks of life."
"And while there are problems with the ACA, I believe we can and should be working to amend, build on, and improve the law--not rip it up like the
The amendments
Accelerating Generic Drug Competition. This amendment seeks to end anticompetitive "pay-for-delay" schemes. Pay-for-delay settlements, also called reverse payment settlements agreements, cost consumers and taxpayers billions of dollars when generic companies agree not to market or delay marketing a generic competitor in exchange for payment by the brand name company. This amendment would rescind the 180-day exclusivity period awarded to the first company to file a generic drug application if the company were to enter into a pay-for-delay agreement.
Unfair Tax Breaks to Drug Companies. This amendment would eliminate the tax subsidies prescription drug corporations receive from the federal government for expenses related to direct-to-consumer advertising for prescription drugs.
Protecting the Rural Health Workforce. This amendment would support doctors, nurses, and other health care providers in rural communities, and protect vital workforce development programs, including the
Medical Loss Ratio. This amendment limits insurance company profits and requires insurance companies to use premium dollars to pay for actual health care costs. Under current law, consumers get more value out of their health insurance because the medical loss ratio requires insurance companies to use at least 80 percent of the money they receive from enrollees' premium payments to fund claims and/or quality improvement measures benefiting consumers rather than company profits and corporate bonuses. Companies that fail to provide this level of value have to rebate the difference back to consumers.
Read this original document at: https://www.franken.senate.gov/?p=press_release&id=3598
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