Offbeat Trump to propose Medicare drug plans share some manufacturer rebates with patients

14:56  11 may  2018
14:56  11 may  2018 Source:

3 ways Trump could lower drug prices

  3 ways Trump could lower drug prices The president is set to unveil his plan for combating the high cost of prescriptions -- here's where he can get startedWhile much as been said about what the president may or may not propose -- on-script or off -- here's a look a three ways the government could help lower the cost of prescriptions, even in the face of opposition from various interested parties.

Now, President Donald Trump has a plan for lowering drug costs for Medicare beneficiaries: allowing them to share in rebates that drug companies pay to insurers and middlemen, an administration official said.

In other Medicare drug changes, the budget calls for requiring insurers to share manufacturer rebates with patients , and it expands coverage for medications to treat substance abuse.

a man wearing a suit and tie © Provided by CNBC President Donald Trump will unveil a plan to limit prices on some costly drugs, though it will not go as far as some Democrats want, according to senior administration officials.

The plan, set to be released Friday, will require Medicare Part D plans share a portion of discounts they receive from drug manufacturers with patients, the officials said. It will include ways to allow the government to better negotiate, they said, though it will stop short of allowing Medicare to directly work with manufacturers on prices.

"We're not calling for Medicare negotiation in a way that Democrats have called for," one official said. "We clearly want to make important changes that will dramatically improve the way negotiation takes place inside the Medicare program."

Trump to Drop Call for Medicare to Negotiate Lower Drug Prices

  Trump to Drop Call for Medicare to Negotiate Lower Drug Prices Breaking a campaign promise, President Trump will not push for the plan, which was popular with voters but not other Republican politicians, when he speaks on Friday about soaring prescription costs.WASHINGTON — President Trump will lay out on Friday a broad strategy to reduce prescription drug prices, but in a break from one of his most popular campaign promises, he will not call for Medicare to negotiate lower prices with drug manufacturers, senior administration officials said.

Medicare has been weighing a proposal to give some of the rebates back to the consumers who buy the drugs , like Ms. Lopez’s Enbrel, to lower their out-of-pocket drug costs. The administration is expected on Monday to propose placing a cap on out-of-pocket spending in Medicare drug plans

The Trump administration proposes to test allowing states to negotiate Medicaid drug prices by using formularies. A Trump administration proposal would require Medicare Part D plans to share with patients more savings from negotiated manufacturer rebates .

Trump has repeatedly chastised drug companies, even accusing them of "getting away with murder." He's slated to deliver a speech outlining his proposals Friday.

The plan will require Medicare Part D plans to share a portion of discounts they receive from drug manufacturers with patients, the officials said. This could be a relief to pharmacy benefit managers, as some reports said there was a push to pass through all of these rebates.

Food and Drug Administration Commissioner Scott Gottlieb last week suggested the federal government re-examine whether the rebates should be re-classified under anti-kickback laws, which has weighed on PBM stocks.

Rebates have become a battleground in the fight over who's to blame for high drug prices. Drugmakers accuse pharmacy benefit managers, or PBMs, of profiting off higher list prices because they can negotiate bigger discounts. PBMs say it's manufacturers' fault for setting the high prices in the first place.

The plan will also seek to limit price increases that are greater than the rate of inflation for drugs covered under Medicare Part B, which covers treatments that patients need to be administered by a physician. It includes some of the most expensive drugs like cancer treatments. Medicare reimburses the list price of the drug plus 6 percent.

The officials declined to outline exactly how the administration would address what has been called "foreign freeloading," or how patients in other countries typically pay less for drugs than Americans, while U.S. companies invest in research and drug development.

6 Takeaways From Trump’s Plans to Try to Lower Drug Prices .
The drug industry won some key victories, even if it did not escape entirely unscathed. Many proposals were light on detail and will need action by Congress to become real.Yet Mr. Trump won some praise for having taken a stab at tackling such a complex and vitally important issue to many Americans.Here is a rundown of the key proposals unveiled on Friday.Lower drug prices for older peopleOn the campaign trail, Mr.

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