Feeling The August Reform Heat: PhRMA And Insurers Get Scorching Letters From Congress
Those involved in pushing comprehensive health care reform have taken a lot of heat this summer, and insurers and drug manufacturers are no exception
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The Pharmaceutical Research and Manufacturers of America is expecting to make good on its pledge to contribute $80 billion to health care reform through a combination of drug rebates and fees, in addition to savings from follow-on biologics and the previously announced 50 percent discount on drugs used in the Medicare Part D donut hole
What's another $20 billion among friends? Biopharma executives had to cringe when, during his July 22 press conference on health reform, President Obama discussed the industry's pledge to deliver $80 billion in savings to help fund the effort. Not only was there a rough edge to his description of the agreement, the President seemingly upped the amount industry may end up having to put on the table by 25 percent
House health reform bill includes PhRMA's offer of 50 percent discounts on drugs for Medicare beneficiaries in the Part D donut hole, but also contains Medicaid-level rebates on drugs used by dual-eligibles.