Democrats’ New Drug Pricing Bill Will Jack Up Prices For Americans, CBO Finds
below is a graphic of where the majority of the $$$ paid at the pharmacy register goes and here is what Congress has negotiated on the NUMBER OF MEDICATIONS that price negotiations can be done on The number of negotiated drugs would be limited to 10 Part D drugs in 2026, 15 Part D drugs in 2027, 15 Part B and Part D drugs in 2028, and 20 Part B and Part D drugs in 2029 and later years. More information is available in this hyperlink https://dailycaller.com/2022/08/05/democrats-drug-pricing-cap-bill-cbo-manchin-sinema-schumer-medicare/ and NO ONE will see any savings for over THREE YEARS from now, and reaching a total of 20 meds AT THE END OF THE DECADE. Since all Medicare meds are covered under Part D and/or Medicare-C and those are provided by FOR PROFIT insurance companies and these major insurance companies also own various PBM entities. Barb has been on Medicare Part D since it started in Jan 2006. So many promises over the years as to what was going to happen and never came to fruition, kind of reminds me of Charlie Brown and Lucy 
Democrats’ landmark new drug pricing legislation could actually result in an initial increase in drug prices, according to information released Thursday by the Congressional Budget Office (CBO).
The non-partisan CBO reported that the legislation, which places a cap on price increases so they cannot go up faster than inflation, could lead drug companies to raise launch prices of new drugs to make up the difference. The CBO also said that allowing Medicare to negotiate certain drug prices directly would contribute, albeit not as much, to higher prices.
The possibility that pharmaceutical companies will counteract the inflation-linked price cap by simply raising starting prices will undercut some messaging in favor of the bill, which Democrats argue will rein in major corporations allegedly price-gouging Americans for necessary medicine. (RELATED: ‘This Is An American Bill’: Joe Manchin Defends New Reconciliation Package)
The price cap provision of the bill has garnered bipartisan support in the past. The Medicare price negotiation is a far more contested aspect of the overall policy. Democrats are including the drug pricing reforms in the major reconciliation package slated to hit President Joe Biden’s desk in early August after it goes before the Senate on Saturday. The package also includes provisions aimed at addressing climate change and out-of-control inflation that has dogged the Biden administration and Democrats for months.
The bill had been stalled until Democratic West Virginia Sen. Joe Manchin recently gave his endorsement to move forward.
Filed under: General Problems
Leave a Reply