Klobuchar re-introduces legislation to allow Medicare to negotiate price of prescription drugs
Bill would help cut costs for more than 37 million seniors enrolled in Medicare Part D
WASHINGTON, D.C. – U.S. Senator Amy Klobuchar today re-introduced legislation to help lower prescription drug prices for seniors. The bill—the Medicare Prescription Drug Price Negotiation Act—would empower Medicare to negotiate for the best possible price of prescription medication for America’s seniors who are enrolled in Medicare Part D. Current law only allows for bargaining by pharmaceutical companies and bans Medicare from doing so. The bill would help cut costs for more than 37 million seniors and boost Medicare savings. Klobuchar introduced similar legislation in the previous Congress.
“The fact that Medicare can’t negotiate for the best possible price on prescriptions makes absolutely no sense and is a bad deal for our seniors and our taxpayers,” Klobuchar said. “This legislation would allow the government to directly negotiate lower drug prices for Medicare Part D so our seniors can have access to the medicines they need at the lowest possible price.”
The Medicare Prescription Drug Price Negotiation Act would allow the Secretary of Health and Human Services (HHS) to directly negotiate with drug companies for price discounts for the Medicare Prescription Drug Program, eliminating the “non-interference” clause that expressly bans Medicare from negotiating for the best possible prices even though the government can often can often negotiate bigger discounts than insurance companies. Senators Richard Blumenthal (D-CT), Tim Kaine (D-VA), Angus King (I-ME), Bernie Sanders (D-VT), and Jeanne Shaheen (D-NH) are cosponsoring the bill.