Senate Finance Committee Ranking Member Ron Wyden, D-Ore., along with several other Democratic senators, yesterday introduced bills aimed at increasing transparency for prescription drug prices and reducing costs for Medicare Part D enrollees. The Stopping the Pharmaceutical Industry from Keeping Drugs Expensive (SPIKE) Act (S. 474) would require the Health and Human Services Secretary to notify drug makers when the price of their drug increases beyond certain benchmarks, and require drug makers to submit a timely justification for price increases to HHS, among other provisions. The Creating Transparency to Have Drug Rebates Unlocked (C-THRU) Act (S. 476) would require pharmacy benefit managers to publicly disclose the aggregate amount of rebates they receive from pharmaceutical companies and the proportion of those rebates that go to Medicare beneficiaries, and base cost-sharing for Part D enrollees on the negotiated price of the drug, among other provisions. The Reducing Existing Costs Associated with Pharmaceuticals for Seniors (RxCAP) Act (S. 475) would eliminate all cost-sharing for Medicare Part D beneficiaries once they reach the catastrophic phase.

Related News Articles

Headline
The House Energy and Commerce Subcommittee on Health today held a hearing on seven bills aimed at improving transparency in the drug supply chain to lower…
Headline
The Centers for Medicare…
Headline
The largest U.S. pharmaceutical and biotech companies spend just 22 cents out of every dollar on research and development, according to an analysis released…
Blog
A recent Health Affairs blog post (April 19) on hospital price transparency argues that chargemaster data can be confusing to consumers. We agree, and have…
Headline
The House Ways and Means Committee today approved the Prescription Drug Sunshine, Transparency, Accountability and Reporting Act (H.R. 2113), AHA-supported…
Headline
The Department of Health and Human Services’ Office of Inspector General yesterday proposed excluding from safe harbor protection under the Anti-Kickback…