Article by Jill Murphy, Pharmacy Times
“The Centers for Medicare & Medicaid Services (CMS) has issued a proposed rule and the Advance Notice Part II to further advance the agency’s efforts to strengthen and modernize the Medicare Advantage and Part D prescription drug programs. These changes would lower the beneficiary cost sharing on more expensive prescription drugs, promote the use of generic medications, and allow beneficiaries to know in advance and compare their out-of-pocket payments for different prescription drugs.
The changes advance President Trump’s Executive Orders on Protecting and Improving Medicare for Our Nation’s Seniors and Advancing American Kidney Health, as well as several of the CMS strategic initiatives, according to the agency. With these changes, the plan revenue is expected to increase by 0.93%.
The proposed rule would require Part D plans to offer real-time drug price comparison tools to beneficiaries starting January 1, 2022 so that consumers can buy lower-cost alternative therapies under their prescription drug benefit plan. Using these tools, patients will be able to know what they will need to pay before they are standing at the pharmacy cash register. In addition, pharmaceutical companies and coverage plans would have to compete on the basis of the costs that patients face for their prescription drugs.”