Two key U.S. senators unveiled a long-awaited bill to reduce pharmaceutical costs for people in government health programs, with the promise of saving taxpayers and patients more than $100 billion over a decade.
The proposal, which will begin working its way through Congress later this week, was released by the Republican and Democratic leaders of the Senate Finance Committee, Charles E. Grassley of Iowa and Ron Wyden of Oregon.
It contains several programs designed to reduce government spending on Medicare and Medicaid and lower patients’ costs and premiums. One initiative would force drugmakers to give rebates if they raised drug prices beyond a measure of inflation. Another would cap the amount people in Medicare’s drug benefit have to spend out of their own pocket.
Other parts of the bill would make changes to how Medicaid, the federal-state program for low-income people, pays for drugs. The lawmakers said the bill would increase transparency in the pharmaceutical supply chain, which depends on a complex web of middlemen and distributors.
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