PhRMA Urges CMS to Share the Savings with Seniors
Summary
WASHINGTON, Jan. 17, 2018 /PRNewswire-USNewswire/ -- Yesterday, PhRMA submitted comments in response to the Centers for Medicare & Medicaid Services (CMS) Request for Information (RFI) on sharing a portion of manufacturer rebates directly with beneficiaries at the point of sale.For over 10 years, Medicare Part Ds success has been built on strong competition among private health plans that work to keep costs low and negotiate with pharmaceutical manufacturers for savings.PhRMAs comment letter on the RFI shows how sharing the savings improves affordability for patients, better aligns stakeholder incentives and makes the successful Part D program work even better for millions of seniors and disabled beneficiaries.The comments include new analysis from the actuarial firm Milliman which shows that rebate pass-through could alter market dynamics, strengthening plan incentives in the Part D program and reducing spending for beneficiaries and government alike:Part D has succeeded beyond expectations, delivering affordable prescription drug coverage for more than 40 million seniors and disabled individuals at a lower cost to taxpayers than was originally anticipated.