Sens. Float Bill To Let Medicare Negotiate Drug Prices

Law360, New York (January 8, 2015, 6:52 PM EST) -- Sens. Amy Klobuchar, D-Minn., Richard Blumenthal, D-Conn., and four other lawmakers proposed a bill Wednesday to allow Medicare to negotiate the best possible prescription drug prices for seniors with pharmaceutical companies, potentially reducing costs for over 37 million beneficiaries of the program.

Klobuchar, Blumenthal, along with Sens. Tim Kaine, D-Va., Angus King, I-Maine, Bernie Sanders, I-Vt., and Jeanne Shaheen, D-N.H., are co-sponsoring the Medicare Prescription Drug Price Negotiation Act, which would let Medicare negotiate prescription drug prices for seniors enrolled in Medicare Part D.

Current law prohibits Medicare from negotiating those prices, Klobuchar said Tuesday.

"The fact that Medicare can't negotiate...

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