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Letter Supporting the Medicare Drug Price Negotiation Act

October 24, 2017

The Honorable Bernard Sanders
332 Dirksen Building
Washington, D.C. 20510

Dear Senator Sanders:

On behalf of the millions of members and supporters of the National Committee to Preserve Social Security and Medicare, I write to endorse your legislation, the Medicare Drug Price Negotiation Act.

Your proposed legislation:

  • permits Medicare to negotiate directly with manufacturers;
  • directs the Secretary of the Department of Health & Human Services to either establish a Medicare Part D formulary or direct plan sponsors to make certain changes to their own formularies for drugs that are under price negotiation;
  • prioritizes negotiation for drugs that are high-cost, have had significant price increases, drive up Medicare Part D spending, or lack competition;
  • when negotiations fail, allows the Secretary to obtain fallback prices for drugs including the price paid by direct government purchasers such as United States Department of Veterans Affairs; and
  • requires drug manufacturers to provide a rebate to the federal government for drugs covered under Medicare Part D for low-income Medicare beneficiaries.

This legislation would provide Medicare with powerful tools to bring down rising Part D drug costs and provide seniors with some relief from high out-of-pocket costs.  The National Committee therefore enthusiastically supports the Medicare Drug Price Negotiation Act. Thank you for your leadership on this vital issue.

Sincerely,

 

Max Richtman
President and CEO



   

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