Medicare Drug Price Negotiation Act

Summary

Medicare Drug Price Negotiation Act This bill makes a series of changes relating to the prices of prescription drugs under the Medicare prescription drug benefit and Medicare Advantage (MA) prescription drug plans (PDPs). Under current law, the Centers for Medicare & Medicaid Services (CMS) may neither negotiate the prices of covered drugs nor establish a formulary. The bill repeals these restrictions and instead specifically requires the CMS to (1) negotiate the prices of covered drugs; and (2) either establish a formulary for covered drugs, or require changes to PDP formularies that take into account CMS negotiations. If the CMS is unable to negotiate an appropriate price for a drug in accordance with certain criteria, the price must be the lowest of three specified options (e.g., the median price in other countries). The CMS must identify drugs that are subject to negotiation, with priority given to certain categories of drugs based on usage and cost. Additionally, drug manufacturers must issue rebates to the CMS for drugs dispensed to eligible low-income individuals. Subject to civil monetary penalties, a Medicare or MA PDP sponsor must report, both to drug manufacturers and to the CMS, specified information related to the determination and payment of such rebates.

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Timeline

1. 23 March 2021

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 23 March 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 23 March 2021

   Committee

   Committee on Health, Education, Labor, and Pensions Subcommittee on Primary Health and Retirement Security. Hearings held. With printed Hearing: S.Hrg. 117-176.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 23 March 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 23 March 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 23 March 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 23 March 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Sen. Blumenthal, Richard [D-CT] · D · Sponsor
• Sen. Booker, Cory A. [D-NJ] · D · Sponsor
• Sen. Gillibrand, Kirsten E. [D-NY] · D · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Sponsor
• Sen. Padilla, Alex [D-CA] · D · Sponsor
• Sen. Reed, Jack [D-RI] · D · Sponsor
• Sen. Smith, Tina [D-MN] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• · sshr00 · Standing
• · ssfi00 · Standing

Related records

• related to ← Medicare Drug Price Negotiation Act