U.S. SENATE – U.S. Senator Steve Daines today introduced three bipartisan bills to increase transparency in the complex drug pricing system and lower prescription drug prices for Montanans.
“As I travel across Montana, one of the biggest concerns I hear about is the outrageous and high cost of prescription drugs for Montana families and seniors,” Daines said. “These bipartisan bills will go a long way to lower prescription drug costs for Montanans by ensuring savings are going to consumers instead of lining the pockets of pharmacy middlemen. It will also help Montana seniors have greater access to their community pharmacy for needed medications.”
Daines’ legislation would accomplish the following:
The Transparency for Pharmacists Act would provide certainty and assess quality performance for plans, Centers for Medicare and Medicaid Services updates a standard set of quality metrics to hold plans accountable. To provide that same certainty and accountability to pharmacies, the bill directs the Secretary to develop evidence-based, clinical quality metrics, in consultation with stakeholders, for plans would contract with pharmacies under. To read the full bill, click HERE.
The Right Price for Medicare Act fixes a loophole in Medicare that insurers are able to use to keep a higher share of profit from the taxpayer. Right now, insurers can hide revenue in “bona fide fees.” This bill would require those fees to be passed through to Medicare, lowering taxpayer exposure. To read the full bill, click HERE.
The Phair Relief Act will improve financial certainty for community pharmacies by putting a five-year freeze on direct or indirect remuneration claw backs, which have increased seniors’ out of pocket costs at the point of sale for their medications and contributed to an unsustainable environment that has forced too many community pharmacies to shutter their doors. To read the full bill, Click HERE.
Daines sits on the U.S. Senate Finance Committee which has jurisdiction over these bills and prescription drug costs. Daines is only the third U.S. Senator from Montana to serve on the Committee.
Background:
Daines is actively fighting to lower prescription drug costs for all Montanans.
Last month, Daines introduced the bipartisan Improving Low-Income Access to Prescription Drugs Act of 2019 to permanently authorize the Limited Income Newly Eligible Transition (LI NET) Program.
Earlier this year, Daines introduced a bipartisan bill, the Prescription Pricing for the People Act of 2019, to shed light on the drug pricing process and the middlemen responsible for negotiating prescription drug costs.
Daines is also a cosponsor of the Creating and Restoring Equal Access to Equivalent Samples Act (CREATES Act), which would combat brand-name drug manufacturers’ attempts to delay competition from more affordable generic drugs.