Make Medicine Affordable Act

Make Medicine Affordable Act

This bill establishes several programs and requirements to address the prices of prescription drugs, including (1) requiring the Centers for Medicare & Medicaid Services to negotiate the prices of certain brand-name drugs and insulin under Medicare, (2) capping annual out-of-pocket spending under the Medicare prescription drug benefit, and (3) limiting cost-sharing for insulin products.

Bill 117 hr 7497, also known as the Make Medicine Affordable Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to address the rising costs of prescription medications in the United States and make them more affordable for all Americans.

One of the key provisions of the Make Medicine Affordable Act is the establishment of a Prescription Drug Affordability Board. This board would be responsible for setting limits on the prices of prescription drugs, based on factors such as the cost of production and the prices of similar medications in other countries. The board would also have the authority to negotiate prices with drug manufacturers to ensure that medications are priced fairly and affordably.

Additionally, the bill includes measures to increase transparency in the pharmaceutical industry. Drug manufacturers would be required to disclose information about the costs of production, research and development, and marketing for each medication. This transparency is intended to help consumers understand why certain medications are priced the way they are and hold manufacturers accountable for pricing practices. Furthermore, the Make Medicine Affordable Act includes provisions to expand access to generic medications and promote competition in the pharmaceutical market. This would help drive down prices and make medications more affordable for consumers. The bill also includes measures to improve the availability of affordable prescription drugs for low-income individuals and seniors. Overall, the Make Medicine Affordable Act aims to address the issue of skyrocketing prescription drug prices in the United States and make medications more accessible and affordable for all Americans. It remains to be seen how this legislation will be received in Congress and whether it will ultimately be passed into law.