RELEASE: New Analysis Finds U.S. House Prescription Drug Bill Could Dramatically Lower Prices of Brand-Name Drugs
Washington, D.C. — Today, the Center for American Progress released a new analysis examining how H.R. 3, the U.S. House of Representatives’ landmark prescription drug legislation, could lower the price of specific brand-name drugs. The authors use an analysis produced by the Congressional Budget Office (CBO), as well as other drug pricing data, to approximate savings for 30-day supplies of these drugs as a result of the legislation. These lower prices would result in substantial savings for consumers and, as CBO notes, could also lower premiums and cost-sharing.
The analysis finds that a person with diabetes could save more than $700 on an annual supply of certain types of insulin. A full list of savings for specific brand-name drugs included in the analysis can be found here.
“This analysis finds that the bill’s negotiation process would reap substantial savings for both taxpayers and patients, regardless of whether they have Medicare or private insurance coverage,” said Maura Calsyn, managing director of Health Policy at the Center for American Progress. “In opposing H.R. 3, President Donald Trump is breaking his promise to allow Medicare negotiate drugs and keeping costs unnecessarily high for the American people.”
Click here to read “House Bill Could Lower Patients’ Prescription Drug Spending by Thousands of Dollars” by Nicole Rapfogel, Maura Calsyn, and Emily Gee.
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