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Fri Nov 20, 2020, 04:33 PM

Trump makes late-term bid to lower prescription drug costs

Source: ABC News

WASHINGTON -- Trying to close out major unfinished business, the Trump administration issued regulations Friday that could lower the prices Americans pay for many prescription drugs.

But in a time of political uncertainty, it’s hard to say whether the rules will withstand expected legal challenges from the pharmaceutical industry or whether the incoming Biden administration will accept, amend or try to roll them back entirely.

The two finalized rules, long in the making, would:

— tie what Medicare pays for medications administered in a doctor's office to the lowest price paid among a group of other economically advanced countries. That's called the “most favored nations” approach. It is adamantly opposed by critics aligned with the pharmaceutical industry, who liken it to socialism. The administration estimates it could save $28 billion over seven years for Medicare recipients through lower copays. It would take effect Jan. 1.

— require drugmakers, for brand name pharmacy medications, to give Medicare enrollees rebates that now go to insurers and middlemen called pharmacy benefit managers. Insurers that deliver Medicare's “Part D” prescription benefit say that would raise premiums. The nonpartisan Congressional Budget Office estimates it would increase taxpayer costs by $177 billion over 10 years. The Trump administration disputes that and says its rule could potentially result in 30% savings for patients. It would take effect Jan. 1, 2022.

Read more: https://abcnews.go.com/Business/wireStory/trump-makes-late-term-bid-lower-prescription-drug-74322814?cid=clicksource_4380645_8_heads_posts_card_hed



It sounds like these new rules, especially the second one, are not well thought out since the CBO says it will substantially increase taxpayer costs.

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Reply Trump makes late-term bid to lower prescription drug costs (Original post)
groundloop Nov 20 OP
sdfernando Nov 20 #1
duforsure Nov 20 #2
Dave Starsky Nov 20 #3
JohnnyRingo Nov 20 #4
Happy Hoosier Saturday #5

Response to groundloop (Original post)

Fri Nov 20, 2020, 04:53 PM

1. I'm skeptical of anything shitface does right now...actually EVER done! /nt

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Response to groundloop (Original post)

Fri Nov 20, 2020, 05:29 PM

2. That's amusing since he first ranted about drug costs, then stopped after

Accepting millions in campaign donations from them into a PAC , and then he stopped. They must have stiffed him this time.

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Response to duforsure (Reply #2)

Fri Nov 20, 2020, 05:35 PM

3. He's probably pissed that they didn't back him over COVID stuff.

It's just another way to extract his signature petty revenge.

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Response to groundloop (Original post)

Fri Nov 20, 2020, 08:35 PM

4. I watched the presser...

...and before he went off on winning, he pointed out that drugs are cheaper in other countries. 20, 30,40, or even 50% higher. Even higher than that. He blamed it on socialized medicine here.

He demanded pharmaceutical companies, that didn't contribute to his campaign by the way, slash thee prices upon him. Apparently the insurance companies did donate, because they're the one who jack up the co-pays for Medicare, rendering many medicines unobtainable except by the well off.

I don't care how much medicine costs the insurance companies, I care that I have to cough up a $40 co-pay every month for it.

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Response to groundloop (Original post)

Sat Nov 21, 2020, 12:11 AM

5. And he pretty much admitted defeat in that presser...

... at one point quipping, "I hope they keep it...."

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