Debra Barrett, Executive Director of the Coalition for Affordable Prescription Drugs (CAPD), today issued the following statement in response to the Administration’s Proposed Notice of Benefit and Payment Parameters for 2020:
We applaud the Administration’s continued efforts to ensure that all Americans have access to the medicines they need at a more affordable price. For too long, drug companies have gone unchecked, repeatedly pricing their life-saving medicines out of reach for too many. Notably, the Administration’s proposed changes include the flexibility to allow for mid-year formulary changes when a lower-cost generic drug becomes available as well as cost-sharing incentives for consumers to use more affordable versions of a drug. These are commonsense tools that will support patient access while seeking to contain ever-increasing prescription drug prices.
In addition, CAPD is encouraged by the Center for Medicare and Medicaid Innovation (CMMI)’s new demonstration model, the “Part D Payment Modernization Model,” which would allow Part D plans to take on greater risk for spending in the catastrophic phase of coverage. We believe that this new model could result in several benefits for patients and the Part D program including: increasing market competition, lowering drug prices, and reducing patient out-of-pocket costs for seniors.
CAPD looks forward working with the Administration as it continues its efforts to reduce out-of-control drug prices and ensure access to more affordable drugs for American seniors and families.
The Coalition for Affordable Prescription Drugs (CAPD) is a diverse group of employers, unions, public sector employees and retirees who partner with pharmacy benefit managers (PBMs) to provide more affordable prescription drug coverage for millions of Americans.