Health Care FinanceHealth Care RedesignLegislative UpdatePart D/Prescription Drugs

Millions of Medicare Beneficiaries Use Prescription Drugs That Could Be Subject to Price Negotiation, But Build Back Better Act Provision Exempts Many Drugs With High Federal Spending

(By Juliette Cubanski, Nolan Sroczynski , and Tricia Neuman for Kaiser Family Foundation published January 27, 2022)

The Build Back Better Act (BBBA), the budget reconciliation package that passed the House in November 2021 and is currently being considered by the Senate, includes a range of health and other proposals supported by President Biden, including a proposal to allow the federal government to negotiate the price of some prescription drugs covered under Medicare Part B (administered by physicians) and Medicare Part D (retail outpatient drugs). The negotiation proposal in the BBBA would apply to a limited number of drugs or biologics, as well as all insulin products. The negotiated prices for the first set of selected drugs covered under Part D would take effect in 2025. For drugs covered under Part B, the earliest negotiated prices could first take effect is 2027. Continue reading here…

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