Congress is about to act on drug price reform. Here's what you need to know

[CousinIT]

THIS ARTICLE ALSO DEBUNKS A LOT OF THE BULLSHIT ABOUT THIS BILL THAT REPUBLICANS ARE PUSHING - down further in the piece.

https://www.npr.org/sections/health-shots/2022/08/06/1115939997/drug-prices-faq

. . .

What exactly is Congress changing about drug prices?

For the first time, the federal health secretary would be able to directly negotiate the prices of certain expensive drugs each year for Medicare. This starts in 2026 with 10 drugs and increases to 20 drugs by 2029. To qualify for negotiation, the drugs would have to be on the market for several years.

. . .People on Medicare won't have to pay more than $2,000 a year in out-of-pocket costs for prescription drugs, which will make a big difference for seniors with certain conditions like cancer and multiple sclerosis. This would kick in in 2025.

And, starting next year, if drug companies raise the prices of their drugs faster than inflation, they'll have to pay a rebate to Medicare. That could affect a lot of drugs – according to an analysis by the Kaiser Family Foundation; in 2019-20, half of all prescriptions covered by Medicare increased in price faster than inflation. This provision could help discourage drug companies from constantly hiking prices.

Do experts think it will make a difference?

Actually, many health policy experts think these changes are significant.

"This is a huge breakthrough," says Tricia Neuman, who directs the Program on Medicare Policy at KFF. "Congress has been talking about doing something about drug prices for decades. [This] may not be everything everyone wants, but it really is a big deal and it will provide significant help to literally millions of people who need it."

"It's a huge deal," agrees Stacie Dusetzina, professor of health policy at Vanderbilt University. "It really does break a lot of new ground and fix a lot of problems."

The Congressional Budget Office, which analyzed an earlier version of the bill, estimates these changes will save the government $288 billion through 2031.

. . . SEE FURTHER DOWN THE PAGE AT THE LINK where the piece debunks Republican bullshit lies about what this legislation does: https://www.npr.org/sections/health-shots/2022/08/06/1115939997/drug-prices-faq

[OAITW r.2.0]

1. Leveraging our combined economic power against Big Pharma.

The way it should be.

[Johnny2X2X]

2. There is so much good in this bill

The more I read the happier I am. They got something substantial through. This will help millions.