Democratic Lawmakers Introduce Medicare Price Negotiation Bill
Medicare administrators could negotiate lower prices with drug companies, potentially saving the federal government billions of dollars a year, under legislation House and Senate Democrats are introducing in Congress.
Democratic Reps. Elijah Cummings (Md.), Lloyd Doggett (Texas) and Peter Welch (Vt.), alongside Sen. Bernie Sanders (I-Vt.), unveiled a bill this week that would allow Medicare Part D to negotiate lower drug prices with pharmaceutical companies.
The legislation would direct HHS to create a new Medicare formulary, and would reinstate requirements for drugmakers to issue rebates to low-income beneficiaries — a measure removed following the 2006 launch of the Part D program.