Democrats in the U.S. Senate continue to negotiate an economic package that advances President Joe Biden’s key priorities. Prescription drug pricing legislation that would drastically alter the Medicare program and healthcare subsidies may be the only two pieces of the package that will advance to the full Senate.
The proposed prescription drug pricing reform legislation includes language similar to provisions in H.R. 3, which was introduced in 2021. CBSA was active in voicing concerns about H.R. 3. The current Senate bill includes price setting, inflation penalties, and a Medicare Part D redesign, which will impact CBSA members and the patients they serve.
Three Key Elements of the Prescription Drug Pricing Legislation:
Price Setting – lowering prices through drug price negotiation:
- Government price setting for single-source, high-spend medicines in Medicate Parts B and D starting at nine years for small molecules,13 years for biologics
- Ceiling price based on…
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