CMS Takes Action to Lower Prescription Drug Costs
Posted on Tuesday, November 27, 2018 8:54 PM
This week, CMS proposed policies to begin in 2020 designed to strengthen and modernize Medicare Parts C and D programs. The proposal would ensure that Medicare Advantage and Part D plans have tools to negotiate lower drug prices, and they are also considering a policy that would require pharmacy rebates to be passed on to seniors to lower their drug costs.
“President Trump is following through on his promise to bring tougher negotiation to Medicare and bring down drug costs for patients, without restricting patient access or choice,” said HHS Secretary Alex Azar. “By bringing the latest tools from the private sector to Medicare Part D, we can save money for taxpayers and seniors, improve access to expensive drugs many seniors need, and expand their choice of plans. The Part D proposals complement efforts to bring down costs in Medicare Advantage and in Medicare Part B through negotiation, all part of the President’s plan to put American patients first by bringing down prescription-drug prices and out-of-pocket costs.”
The new changes would allow Part D plans to negotiate prices for drugs in protected therapeutic class and would require Part D plan physicians to tell their patients what the prescribed drug will cost.
Click here for the full press release.
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