Gavel on flag Critics say the legislation goes too far in limiting drugmakers’ discretion to set prices and doesn’t do enough to help consumers. (Photo: Shutterstock)

A bipartisan Senate bill would yield $100 billion in savings on prescription-drug spending over a decade, two of its sponsors said, in part by penalizing pharmaceutical companies for raising prices faster than the rate of inflation.

The legislation, which has the backing of the White House, contains several proposals designed to reduce government outlays in Medicare and Medicaid. It also seeks to limit what patients who have Medicare drug plans would have to spend out of their own pockets on prescriptions.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.