Posted by Michael Wonder on 25 Oct 2018
Trump outlines new plan to lower Medicare drug prices, end 'rigged' system
25 October 2018 - President Donald Trump outlined a plan Thursday that would allow Medicare to start negotiating drug prices to bring costs in line for its Part B coverage with what other nations pay for the same drugs.
President Donald Trump outlined a plan Thursday he said would allow Medicare to lower drug prices for its Part B coverage and end this "rigged system" that allows other countries to pay less than the U.S. for the same drugs.
Under the administration's proposal, the Department of Health and Human Services would permit Medicare to create a new payment model that would bring drug prices in line with what other nations pay.
HHS estimates $17 billion in program savings over five years, it said in a press release. The agency is trying to issue a formal rule early next year with the new payment model taking effect in 2020, HHS said.
