GOP, Dems offer compromise to reduce drug costs for seniors
5 years, 5 months ago

GOP, Dems offer compromise to reduce drug costs for seniors

Associated Press  

WASHINGTON — Two veteran senators — a Republican and a Democrat — unveiled compromise legislation Tuesday to reduce prescription drug costs for millions of Medicare recipients, while saving money for federal and state health care programs serving seniors and low-income people. Iowa Republican Chuck Grassley and Oregon Democrat Ron Wyden said the bill would for the first time limit drug copays for people with Medicare’s “Part D” prescription plan, by capping patients’ out-of-pocket costs at $3,100 a year starting in 2022. “This legislation shows that no industry is above accountability.” The White House encouraged the Senate negotiations, and spokesman Judd Deere said the Trump administration stands ready to “work with senators to ensure this proposal moves forward and advances the president’s priority of lowering drug prices.” Democrats controlling the House want to go farther by granting Medicare legal authority to directly negotiate prices with pharmaceutical companies. Grassley’s office said the bill will force drugmakers and insurers to take greater responsibility for keeping Medicare prescription prices in line, instead of foisting increases on taxpayers and beneficiaries.

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