MultiBrief: New House bill focuses on Medicare drug price reduction | MultiBriefs

According to Health and Human Services (HHS) Secretary Alex Azar, “President Trump’s plan to curb drug prices will allow Medicare to negotiate prices in a more aggressive approach.”

It is important for Medicare Part D participants to have a level of transparency when it comes to how they are priced for specific drugs that they depend on.

In an effort to assist the various participants of the program, the proposed House bill is working towards providing a drug pricing blueprint and seeks to remove rebate agreements that currently exist for Medicare Part D drugs. It also aims to have more fixed pricing system in place for drug discounts to be provided to consumers.

When consumers reach the point of purchase on their prescriptions, the hope is to have discounts already in place. There will be a high level of drug price transparency as well as changes in the rebate rules, if the bill passes.

While it may be too soon to tell if potential fixed-price discounts in place can reduce drug prices, time will tell if this is an avenue that more and more insurers should adopt.

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MultiBrief: New House bill focuses on Medicare drug price reduction.