Senate's Prescription Drug Pricing Bill's Limited Impact On Drug Prices

Two weeks ago, the Prescription Drug Pricing Reduction Act (PDPRA) advanced out of the Senate Finance Committee. The Act will be considered by the full Senate this fall. If passed and enacted, the bill would cap Medicare beneficiary out-of-pocket costs for prescription drugs at $3,100 per year, beginning in 2022. Furthermore, it would require drug makers to rebate Medicare if they raise prices above inflation.