Senate Bill 4199
116th Congress(2019-2020)
Prescription Drug Pricing Reduction Act of 2020
Introduced
Introduced
Introduced in Senate on Jul 2, 2020
Overview
Text
Introduced
Jul 2, 2020
Latest Action
Jul 2, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4199
Congress
116
Policy Area
Health
Health
Primary focus of measure is science or practice of the diagnosis, treatment, and prevention of disease; health services administration and funding, including such programs as Medicare and Medicaid; health personnel and medical education; drug use and safety; health care coverage and insurance; health facilities. Measures concerning controlled substances and drug trafficking may fall under Crime and Law Enforcement policy area.
Sponsorship by Party
No Senate votes have been held for this bill.
Summary

Prescription Drug Pricing Reduction Act of 2020

This bill alters several programs and requirements relating to the prices of prescription drugs under Medicare and Medicaid.

Among other things, the bill

  • requires drug manufacturers to issue rebates to the Centers for Medicare & Medicaid Services (CMS) for certain drugs covered under Medicare for which the average manufacturer price increases faster than inflation;
  • requires drug manufacturers to issue rebates to the CMS for discarded amounts of certain single-dose drugs covered under Medicare, based on information reported by providers;
  • reduces the annual out-of-pocket spending threshold, and eliminates beneficiary cost-sharing above this threshold, under the Medicare prescription drug benefit;
  • requires the CMS to publish certain information, as reported by pharmacy benefit managers (PBMs), relating to drug discounts and rebates, and payments between PBMs, health plans, and pharmacies;
  • requires pass-through pricing models, and prohibits spread-pricing, for payment arrangements with PBMs under Medicaid; and
  • increases the maximum rebate payable by drug manufacturers under the Medicaid Drug Rebate Program.
Text (1)
Actions (2)
07/02/2020
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4228)
07/02/2020
Introduced in Senate
Public Record
Created
Jul 3, 2020 4:42:09 AM
Updated
Sep 11, 2020 5:49:41 AM