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AARP Urges Passage of Prescription Drug Legislation by Year's End

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You could earn AARP Rewards points when you use our free financial resources. Help Register Login Login Hi, %{firstName}% Hi, %{firstName}% Games Car rental AARP wants Congress to move ahead with legislation aimed at making it harder for drug companies to block less expensive versions of medications from coming to market.
The article from AARP discusses the recent passage of the Lower Costs, More Transparency Act by the U.S. House of Representatives. This legislation aims to address the high costs of prescription drugs by introducing several key measures. It seeks to increase transparency in pharmacy benefit managers (PBMs) by requiring them to report how much they pay for drugs and how much they charge health plans. Additionally, the bill would ban spread pricing, where PBMs charge health plans more than they pay pharmacies, keeping the difference as profit. It also includes provisions to ensure that discounts and rebates from drug manufacturers are passed directly to patients at the pharmacy counter, rather than being retained by PBMs or insurers. This act is part of a broader effort to reform the pharmaceutical industry's pricing practices, aiming to make medications more affordable for consumers, particularly those on Medicare. However, the article notes that while this is a significant step, the bill still needs to pass the Senate, where its future is uncertain due to political differences.

Read the Full AARP Article at:
[ https://www.aarp.org/politics-society/advocacy/info-2024/drug-bill-passage.html ]