September 13, 2021
Administration Advances Plans for Lower Drug Prices as Congress Works on Ways to Expand Medicare with the Savings
The Biden administration unveiled a detailed blueprint for lowering prescription drug prices last Thursday that includes allowing Medicare to directly negotiate lower drug prices and making those prices available to other insurance plans. The White House plan also calls for capping out-of-pocket spending under Medicare Part D, permitting drug importation from Canada and limiting the ability of drug corporations to hike prices on existing drugs.
“We are pleased to see that the administration’s plan addresses skyrocketing drug prices by allowing Medicare to negotiate prices. The Alliance has made that a top priority since our launch in 2001,” said Executive Director Fiesta.