“Fair Pricing Act” Is Being Proposed
U.S. Senator John Kennedy introduced the “Fair Pricing Act of 2019” to lower the costs of pharmaceutical drugs covered under Medicare Part D, according to a news release from his office.
The legislation is intended to oversee that middleman “pharmacy benefit managers” and prescription drug plan sponsors pass negotiated savings along to customers.
Kennedy said, “If pharmacy benefit managers are negotiating prices with the intent to provide greater savings for consumers, then those savings better be given to the consumers rather than padding someone else’s pockets.”
Congressman Doug Collins from Georgia introduced similar legislation last month in the House of Representatives.