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Trump Announces Groundbreaking Rules to Lower Prescription Drug Prices

chuckiechan

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One of the rules implements what is known as a “most favored nation” approach that limits what Medicare pays for medications to the lowest price paid by other economically advanced countries. The administration says it could save $28 billion for Medicare beneficiaries through lower copays.

The other rule would require drug makers to push rebates and discounts directly on to Medicare patients rather than to insurers and middlemen pharmacy benefit managers. The Trump administration says the rule could potentially result in 30 percent savings for patients, although the Congressional Budget Office estimates it could ultimately cost taxpayers more.

Both rules are set to take effect on January 1, although the pharmaceutical industry is expected to mount legal challenges that could delay or block the rules. The rules could also be overturned if Joe Biden takes office in January.

“The drug companies don’t like me too much. But we had to do it,” Trump said in announcing the new policies at the White House. “I just hope they keep it. I hope they have the courage to keep it.”
For example, what this means is pharma can no longer charge medicare $900 in the USA for a dose of shingles vaccine, and $400 in Canada. They must charge Medicare $400, not $900.
This is especially important with Covid vaccines, since I understand the government is picking up the whole tab.

This only applies to first world countries.
 

lemmiwinx

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I recently got the first shingles shot at no cost to me at the recommendation of my pharmacy. I don't what the pharmacy charged Medicare but it was no cost to me. I understand there's a second shot which they're supposed to remind me of but hasn't happened yet.
 

Greenbeard

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For example, what this means is pharma can no longer charge medicare $900 in the USA for a dose of shingles vaccine, and $400 in Canada. They must charge Medicare $400, not $900.
This isn't about pharma charging Medicare anything, it's about what Medicare will reimburse doctors, hospitals, and other providers for drugs they bought from pharma themselves and administered to Medicare patients.
 

swing_voter

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I don't have much faith in government with this kind of thing.

My guess is that patients will rarely if every benefit from it.

Hope I'm wrong, but experience shows I'm not.
 

Greenbeard

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I don't have much faith in government with this kind of thing.

My guess is that patients will rarely if every benefit from it.

Hope I'm wrong, but experience shows I'm not.
It’s another Trump con. Eleven days ago Trump argued before the Supreme Court that it needs to throw out the authority he cited in doing this, along with the rest of the law that granted it (the Affordable Care Act). So if he wins in his quest to destroy the ACA this move is nullified anyway. All smoke and mirrors with these con artists.
 
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