In the heat of the most ferocious battle over drug prices in years, pharmaceutical companies are showering U.S. senators with campaign cash as sweeping legislation heads toward the floor.
In the first six months of this year alone, political action committees run by employees of drug companies and their trade groups have given the 30 senators expected to run for reelection nearly $845,000, the latest update to Kaiser Health News’ “Pharma Cash to Congress” database shows. That hefty sum stands out with Election Day more than 14 months away.
Lowering drug prices is one of the rare causes that has united Democrats and Republicans, and at least one proposal that would change the way the industry does business could get a vote in Congress this year. One of the most promising and aggressive updates would cap drug prices under Medicare so they do not outpace inflation.
via Kaiser Health News.
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Medicare spent $97 billion on prescription drugs in 2014, accounting for more than a quarter of the nation’s spending on prescription medicines. Those numbers are expected to continue rising in coming years, as spending on the Part D benefit accelerates. Policymakers have put a number of proposals on the table to reduce the growth in Medicare drug spending and costs for beneficiaries, including a controversial proposal that would change the way Medicare pays for Part B drugs administered by doctors.
Related Reading:
Options for Implementing Medicare Drug Negotiation.
Letter to Senate Finance on High Drug Costs.
via Kaiser Health News.
Related Reading:
Letter Urging Cosponsoring of “The Medicare Negotiation and Competitive Licensing Act”.
We support Congressman Doggett’s bill because it would allow the Secretary of Health & Human Services to directly negotiate prices for prescription drugs and issue a competitive license allowing other manufacturers to produce the drug for Medicare in the event negotiations fail.
Hill Democrats Get Tough on Big Pharma, Prescription Drug Prices.
Last week, Democrats introduced legislation to allow Medicare to negotiate prices directly with pharmaceutical companies. This week, the new chairman of a key House committee, Rep. Elijah Cummings (D-MD), announced an investigation into skyrocketing drug costs.
A big part of the Trump administration’s plan to lower drug prices is now dead, White House spokesman Judd Deere confirmed to Axios.
Why it matters: The administration is backing away from an effort to change the way money flows through federal health care programs — one of the most sweeping elements of its drug-pricing blueprint. That’s bad news for pharma, and the move will put pressure on other parts of the administration’s plan, which is also bad news for pharma.via Axios.
Related Reading:
Meeting the Demand for Lower Drug Prices in Medicare.
Three policy approaches to lowering drug costs that Congress is actively considering are: 1) allowing the government to negotiate directly with manufacturers in the Medicare Part D program, 2) placing inflationary spending caps on drugs, and 3) so-called reference pricing.
Hill Democrats Get Tough on Big Pharma, Prescription Drug Prices.
The Prescription Drug Price Relief Act, which would peg the price of prescription drugs in the United States to the median price in five major countries: Canada, the United Kingdom, France, Germany and Japan…
Medicare Must Be Allowed to Negotiate Drug Prices.
People are dying — or their quality of life is poor — because high drug prices are forcing seniors to go without life-saving medications. It’s time to end pharma’s drug price gouging. It’s time to stop forcing seniors to cut their pills in half or skip a dose. That’s why the National Committee urges the Senate to approve legislation that would allow Medicare to negotiate prescription drug prices.
The champions of Social Security and Medicare elected in November have an opportunity to expand both programs for the benefit of tens of millions of older Americans.
Learn more about each action by clicking here.
via twitter.
Related Reading:
Options for Implementing Medicare Drug Negotiation.
At a time when policymakers are seeking ways to lower the federal deficit and overall health care spending, proposals that reduce Medicare prescription drug costs cannot be overlooked.
Hill Democrats Get Tough on Big Pharma, Prescription Drug Prices.
The Prescription Drug Price Relief Act, which would peg the price of prescription drugs in the United States to the median price in five major countries: Canada, the United Kingdom, France, Germany and Japan…
via twitter.
Related Reading:
Options for Implementing Medicare Drug Negotiation.
At a time when policymakers are seeking ways to lower the federal deficit and overall health care spending, proposals that reduce Medicare prescription drug costs cannot be overlooked.
Hill Democrats Get Tough on Big Pharma, Prescription Drug Prices.
The Prescription Drug Price Relief Act, which would peg the price of prescription drugs in the United States to the median price in five major countries: Canada, the United Kingdom, France, Germany and Japan…
![“Allowing Medicare to negotiate prices [with Big Pharma] would be a benefit for me and millions of other seniors.” - John Glaser (National Committee volunteer)](https://64.media.tumblr.com/e6b30cc82d118a0403ec25225dbc9eda/tumblr_pufg3nWGmj1qd3gmvo1_1280.jpg)
“Allowing Medicare to negotiate prices [with Big Pharma] would be a benefit for me and millions of other seniors.” - John Glaser (National Committee volunteer)
via twitter.
Related Reading:
How the Affordable Care Act Helps Seniors.
The ACA provides new ways to help hospitals, doctors and other health care providers coordinate care for beneficiaries so that health care quality is improved and unnecessary spending reduced.
- Lower-Cost Prescription Drugs.
- Preventive Services and Annual Wellness Visit.
- Lower Medicare Part B Premiums.
- Medicare Fraud, Waste and Abuse.
Most people taking Rx Drugs say they can afford their treatment, but 1 in 4 have difficulty affording their medicine.
Related Reading:
- Options for Implementing Medicare Drug Negotiation.
- CBO has said that price negotiation could lower the cost of drugs that lack competition. Private Part D plans currently have no leverage to negotiate for lower prices when a drug has no competitor.
When it comes to reining in high drug costs, the public supports a wide range of policy actions.
via Kaiser Health News.
Related Reading:
Options for Implementing Medicare Drug Negotiation.
- National polls show that most Americans, across party lines, support allowing the federal government to negotiate with drug companies as a way to bring down the cost of prescription drugs.
- At a time when policymakers are seeking ways to lower the federal deficit and overall health care spending, proposals that reduce Medicare prescription drug costs cannot be overlooked.