Casey, Collins Introduce Bipartisan Legislation to Make Drug Pricing More Transparent
Bill Would Publish Consumer-Friendly Information on What Medicare and Medicaid Spend on Prescription Drugs
Washington, D.C. – This week, U.S. Senators Bob Casey (D-PA), Chairman of the U.S. Senate Special Committee on Aging, and Susan Collins (R-ME), introduced the bipartisan Prescription Drug Pricing Dashboard Act (S. 1773), legislation that would ensure information about the costs of prescription drugs is readily available. The cost of prescription drugs represents a growing share of the U.S. health care economy and nearly one quarter of Americans find it difficult to afford their prescription medications. This bill would require consistently updated information regarding drug costs, available through the Drug Spending Dashboards at the Centers for Medicare & Medicaid Services.
“Americans are struggling to afford life-sustaining medications. No one should have to skip doses or go into debt because of their prescription drug costs,” said Senator Casey. “The Prescription Drug Pricing Dashboard Act would guarantee that consumers, policymakers, researchers and the public have basic information on what Medicare and Medicaid spend on prescription drugs and on what consumers pay.”
The Drug Spending Dashboards are interactive, web-based tools that provide cost and spending information for drugs in the Medicare Part B and D programs as well as Medicaid. The Prescription Drug Pricing Dashboard Act would ensure information about drug costs are posted annually. By knowing how much Medicare and Medicaid spend on prescription drugs, it will be easier to spot trends, identify problems and find solutions.
Read more about the Prescription Drug Pricing Dashboard Act here.