Proposed Senate Drug Plan Brings Death and Taxes
Last updated 12/11/2019 at 1:51pm
By Stacy Washington
The Prescription Drug Pricing Reduction Act would stall future drug development and deprive Americans of lifesaving cures -- all without reducing patients' out-of-pocket costs.
The bill would alter Medicare Part D, the federal prescription drug benefit for seniors and people with disabilities. Today, 45 million Americans receive drug coverage from Part D.
Part D is a free market success story. Instead of administering the benefit directly, Uncle Sam subsidizes private insurers who sell plans to beneficiaries. Since these insurers compete for customers, they have every in...