The called “The Prescription Drug Pricing Reduction Act of 2019,” was introduced by Sens. Chuck Grassley, R-Iowa, and Ron Wyden, D-Ore. It addresses drug costs in Medicare Parts B and D, as well as Medicaid.
The bill passed the committee by a vote of 19-9. The full Senate is expected to vote on the bill in September.
The main components of the bill include a cap on out-of-pocket spending in Medicare Part D and a limit on prescription drug price hikes. In addition, it encourages more price negotiation between insurers and drugmakers.
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