Lower Costs, More Cures Act of 2021

12/31/2022, 5:26 AM

Lower Costs, More Cures Act of 2021

This bill establishes and modifies several programs and requirements to address prescription drug prices, particularly in relation to Medicare and Medicaid.

Among other changes, the bill

  • requires the Centers for Medicare & Medicaid Services to publish certain information, as reported by pharmacy benefit managers (PBMs), relating to generic dispensing rates, drug discounts and rebates, and payments between PBMs, health plans, and pharmacies;
  • caps annual out-of-pocket spending under the Medicare prescription drug benefit;
  • allows prescription drug plan sponsors under the Medicare prescription drug benefit to offer additional plans in a region;
  • establishes requirements under the Medicaid Drug Rebate Program for certain gene therapies for which prices are indexed to achieved outcomes; and
  • establishes the position of Chief Pharmaceutical Negotiator in the Office of the U.S. Trade Representative.
Congress
117
Number
S - 2164
Introduced on
2021-06-22
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

6/22/2021
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Lower Costs, More Cures Act of 2021

This bill establishes and modifies several programs and requirements to address prescription drug prices, particularly in relation to Medicare and Medicaid.

Among other changes, the bill

  • requires the Centers for Medicare & Medicaid Services to publish certain information, as reported by pharmacy benefit managers (PBMs), relating to generic dispensing rates, drug discounts and rebates, and payments between PBMs, health plans, and pharmacies;
  • caps annual out-of-pocket spending under the Medicare prescription drug benefit;
  • allows prescription drug plan sponsors under the Medicare prescription drug benefit to offer additional plans in a region;
  • establishes requirements under the Medicaid Drug Rebate Program for certain gene therapies for which prices are indexed to achieved outcomes; and
  • establishes the position of Chief Pharmaceutical Negotiator in the Office of the U.S. Trade Representative.
Alternative Names
Official Title as IntroducedA bill to provide for certain reforms with respect to the Medicare program under title XVIII of the Social Security Act, and for other purposes.
Policy Areas
Health
Potential Impact
Business records•
Civil actions and liability•
Congressional oversight•
Consumer affairs•
Department of Health and Human Services•
Digestive and metabolic diseases•
Drug safety, medical device, and laboratory regulation•
Drug therapy•
Executive agency funding and structure•
Food and Drug Administration (FDA)•
Fraud offenses and financial crimes•
Genetics•
Government information and archives•
Government studies and investigations•
Health care costs and insurance•
Health care coverage and access•
Health care quality•
Health personnel•
Health promotion and preventive care•
Health technology, devices, supplies•
Home and outpatient care•
Inflation and prices•
Manufacturing•
Marketing and advertising•
Medicaid•
Medical research•
Medicare•
Office of the U.S. Trade Representative•
Prescription drugs•
Product development and innovation•
Public participation and lobbying•
Trade agreements and negotiations

Comments

Related

Bill Update Alert:  Capping Drug Costs for Seniors Act of 2021
Bill Update Alert:  Improving Transparency to Lower Drug Costs Act of 2021

Recent Activity

Latest Summary8/23/2022

Lower Costs, More Cures Act of 2021

This bill establishes and modifies several programs and requirements to address prescription drug prices, particularly in relation to Medicare and Medicaid.

Among other changes, the bill...

Latest Action6/22/2021
Read twice and referred to the Committee on Finance.