Fixing Potholes Shouldn’t Cost Seniors More at the Pharmacy Counter

Delaying or eliminating Part D rebate reforms aimed at lowering out-of-pocket costs for seniors at the pharmacy counter is not a defendable 'pay for' to fund infrastructure.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, July 19, 2021
Information
Tags: 
Medical Supplies, Seniors, Managed care, General Health, Congressional News, Views, Public policy, Government, Consumer, Pharmaceutical, Transportation, Construction & Property, Healthcare reform, Public transport, Travel, Insurance, Urban planning, Transport, Professional services, Health, White House, Federal Government, Public policy, Health sciences, Healthcare reform in the United States, Health, Pharmaceuticals policy, Pharmaceutical industry, Sales promotion, Federal assistance in the United States, Medicare, Out-of-pocket expense, Rebate, Pharmacy, Medication
Geotags: 
United States
⚠generated by AI ↴
Summary
Key Points: 
  • Delaying or eliminating Part D rebate reforms aimed at lowering out-of-pocket costs for seniors at the pharmacy counter is not a defendable 'pay for' to fund infrastructure.
  • Rebates lower drug costs for insurers, but patients taking the medicines often do not benefit from rebates or other discounts.
  • With rebate reforms, Medicare beneficiaries would finally see their drug spending go down at the pharmacy counter as savings from rebates and other discounts on medicines have to be shared with beneficiaries.
  • Lowering out-of-pocket costs improves medication adherence, which in turn lowers total healthcare spending and reduces the burden of illness.


The Partnership to Fight Chronic Disease (PFCD) has issued the following statement in response to news that Congress may increase costs for Medicare beneficiaries to pay for an infrastructure proposal:

“Modernizing the U.S. infrastructure is a needed and important effort, but should not be undertaken at the cost of chronically ill Medicare beneficiaries. Delaying or eliminating Part D rebate reforms aimed at lowering out-of-pocket costs for seniors at the pharmacy counter is not a defendable 'pay for' to fund infrastructure.

“Rebate reforms help patients. Rebates lower drug costs for insurers, but patients taking the medicines often do not benefit from rebates or other discounts. In 2019, rebates and other discounts on prescription drugs reduced drug spending by $175 billion,1 but drug costs for Medicare beneficiaries continue to rise.

“With rebate reforms, Medicare beneficiaries would finally see their drug spending go down at the pharmacy counter as savings from rebates and other discounts on medicines have to be shared with beneficiaries.

“Lowering out-of-pocket costs improves medication adherence, which in turn lowers total healthcare spending and reduces the burden of illness. Enhancing people’s health and 'human infrastructure' is at least as important to America’s long-term growth as physical infrastructure.”

The Partnership to Fight Chronic Disease (PFCD) is an international coalition of patient, provider, community, business and labor groups, and health policy experts, committed to raising awareness of the number one cause of death, disability and rising health care costs: chronic disease.

1drugchannels.net/2020/08/the-gross-to-net-bubble-hit-175-billion.html

Copyright: 
Copyright Business Wire 2021