Bill
Bill > HR4455
summary
Introduced
09/20/2019
09/20/2019
In Committee
09/23/2019
09/23/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend title XVIII of the Social Security Act to provide for a temporary payment increase under the Medicare program for certain biosimilar biological products to encourage the development and use of such products. This bill increases Medicare payments for biosimilars for five years. The bill applies to biosimilars for which the average sales price or wholesale acquisition cost is less than that of the reference biological product, as specified.
AI Summary
This bill, the BIOSIM Act (Bolstering Innovative Options to Save Immediately on Medicines Act), amends the Social Security Act to provide a temporary 5-year increase in Medicare payments for certain biosimilar biological products. The bill applies to biosimilars where the average sales price or wholesale acquisition cost is less than that of the reference biological product. This payment increase is intended to encourage the development and use of biosimilar products, which are similar but not identical to original biologic drugs.
Committee Categories
Business and Industry, Health and Social Services
Sponsors (2)
Last Action
Referred to the Subcommittee on Health. (on 09/23/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/4455/all-info |
| BillText | https://www.congress.gov/116/bills/hr4455/BILLS-116hr4455ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr4455/BILLS-116hr4455ih.pdf.pdf |
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