Mandatory Part D Drug Rebates Proposed By Deficit Panel Leaders; Stronger IPAB Also On The Table
This article was originally published in The Pink Sheet Daily
The co-chairs of the bipartisan National Commission on Fiscal Responsibility and Reform issued a cost-savings proposal for the government, including Medicare, on Nov. 10, but it will need approval by 14 of 18 members before going to the president.
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President Obama’s speech includes some proposals for cost-savings in Medicare, such as having wealthier seniors pay more, moving from pay-for-service to pay-for-performance and mandatory rebates on drugs used in Medicare Part D, which drew a quick response from PhRMA.
House Speaker John Boehner made an offer to President Obama Dec. 3 to base a resolution to the looming fiscal cliff on a proposal by the president’s deficit commission headed by Erskine Bowles and Alan Simpson, a proposal that included a mandatory rebate on drugs used in Medicare Part D.
Commission will vote Dec. 3 on whether to approve the plan on ways to reduce federal deficits.