S. 2543 — Prescription Drug Pricing Reduction Act of 2019

Summary

Prescription Drug Pricing Reduction Act of 2019

This bill alters several programs and requirements relating to the prices of prescription drugs under Medicare and Medicaid.

Among other things, the bill

requires drug manufacturers to issue rebates to the Centers for Medicare & Medicaid Services (CMS) for certain drugs covered under Medicare for which the average manufacturer price increases faster than inflation;
requires drug manufacturers to issue rebates to the CMS for discarded amounts of certain single-dose drugs covered under Medicare, based on information reported by providers;
reduces the annual out-of-pocket spending threshold, and eliminates beneficiary cost-sharing above this threshold, under the Medicare prescription drug benefit;
requires the CMS to publish certain information, as reported by pharmacy benefit managers (PBMs), relating to drug discounts and rebates, and payments between PBMs, health plans, and pharmacies;
requires pass-through pricing models, and prohibits spread-pricing, for payment arrangements with PBMs under Medicaid; and
increases the maximum rebate payable by drug manufacturers under the Medicaid Drug Rebate Program.

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Related Legislation

H.R. 4629Star Rating for Biosimilars Act
2019-10-18Sponsor introductory remarks on measure. (CR H8232)
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H.R. 5281Drug Price Transparency in Medicaid Act of 2019
2019-12-04Referred to the Subcommittee on Health.
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H.R. 1264Payment Commission Data Act of 2019
2019-02-15Referred to the Subcommittee on Health.
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H.R. 1781Payment Commission Data Act of 2019
2019-10-29Received in the Senate and Read twice and referred to the Committee on Finance.
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H.R. 3029Improving Low-Income Access to Prescription Drugs Act of 2019
2019-06-04Subcommittee Hearings Held.
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H.R. 4649Capping Drug Costs for Seniors Act of 2019
2019-10-30Sponsor introductory remarks on measure. (CR H8607)
Related
S. 801A bill to amend titles XVIII and XIX of the Social Security Act to provide the Medicare Payment Advisory Commission and the Medicaid and CHIP Payment and Access Commission with access to certain drug payment information, including certain rebate information.
2019-03-14Read twice and referred to the Committee on Finance.
Related
S. 1999Improving Low Income Access to Prescription Drugs Act of 2019
2019-06-27Read twice and referred to the Committee on Finance.
Related
H.R. 5882GENE Therapy Payment Act
2020-02-12Referred to the House Committee on Energy and Commerce.
Related
S. 4199Prescription Drug Pricing Reduction Act of 2020
2020-07-02Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4228)
Related
S. 1505Medicare Prescription Drug Fraud Prevention Act of 2019
2019-05-16Read twice and referred to the Committee on Finance.
Related

Legislative Actions

2019-09-25
Introduced in Senate
2019-09-25
Committee on Finance. Original measure reported to Senate by Senator Grassley. With written report No. 116-120.
2019-09-25
Committee on Finance. Original measure reported to Senate by Senator Grassley. With written report No. 116-120.
2019-09-25
Placed on Senate Legislative Calendar under General Orders. Calendar No. 225.

Prescription Drug Pricing Reduction Act of 2019

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Summary

Full Text

Related Legislation

Legislative Actions

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