Advocacy & Practice Updates — Advocacy & Practice
Medicare Drug Negotiation Passes the House, Included in Build Back Better Act
On November 19, the House passed sweeping social and climate change legislation—the Build Back Better Act. Included as a cost-offset are provisions aimed at reducing the cost of Medicare Part B and D drugs, such as Medicare price negotiation for a limited set of drugs past their exclusivity periods, penalties for manufactures that raise prices faster than inflation, and out-of-pocket spending caps for beneficiaries. The drug pricing provisions of the legislation, as well as other elements of the package, could be scaled back or modified when the bill moves to the Senate after the Thanksgiving recess. While Senate leaders are pushing for immediate action on the bill, the timeline for final consideration could come after the new year.
(Published Nov. 24, 2021)