Trump makes late-term bid to lower prescription drug costs - (This is Money via NewsPoints Desk)

  • US President Donal Trump's administration issued regulations on Friday that could lower the prices people in the country pay for many prescription drugs, as reported This is Money.

  • One rule would link what Medicare pays for medications administered in a doctor's office to the lowest price paid among a group of other economically advanced countries.

  • The rule, which would come into effect on January 1, 2021, would apply to 50 medications that account for the highest spending under Medicare's "Part B" benefit for outpatient care.

  • The administration estimates "the most favoured nations" approach could save $28 billion over seven years for Medicare recipients through lower co-pays.

  • The other rule, which would take effect on January 1, 2022, requires drugmakers, for brand name pharmacy medications, to give Medicare enrolees rebates that currently go to pharmacy benefit managers.

  • While insurers that deliver Medicare's "Part D" prescription benefit say this would raise premiums, the Trump administration says its rule could potentially result in 30% savings for patients. 

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