Bill > S1898

This bill, the Affordable Medications Act, aims to ensure medications are affordable. Key provisions of the bill include: - Requiring drug manufacturers to report detailed information on drug costs, R&D, marketing, and patient assistance programs to increase transparency. This data will be publicly reported by the Secretary of Health and Human Services. - Allowing the Secretary of Health and Human Services to directly negotiate drug prices for Medicare Part D enrollees, with the option to use the lower of the VA or "Big Four" price if negotiations fail. - Establishing an excise tax on prescription drugs subject to "price spikes", defined as large price increases above inflation, with exceptions for certain low-cost drugs. - Enabling importation of safe and affordable prescription drugs from Canada and other OECD countries with comparable regulatory standards. - Requiring drug manufacturers to provide rebates for drugs dispensed to low-income Medicare beneficiaries. - Capping prescription drug cost-sharing for plans under the Affordable Care Act and group health plans. - Creating an "Antibiotics Innovation Incentive Fund" to spur development of new antibiotics through market entry rewards and open source dividend prizes. The bill aims to lower prescription drug costs for consumers, increase transparency around drug pricing, and incentivize the development of new, innovative treatments.

Budget and Finance

https://www.congress.gov/bill/117th-congress/senate-bill/1898/all-info