Rebate Rule Raises Seniors’ Medicare Premiums to Pay for Pharmaceutical Industry Windfall
Washington, D.C., November 20, 2020 – Today, the Coalition for Affordable Prescription Drugs released the following statement regarding the Trump Administration finalizing the prescription drug Rebate Rule:
“In finalizing the prescription drug Rebate Rule, the Trump Administration – with just weeks left in office – doubled down on policy that harms seniors and raises their prescription drug costs. Rushing one of the most expensive regulations ever through an opaque and extremely irregular review process in the waning days of the Administration is a shortsighted decision – one that will have lasting and serious consequences for America’s seniors, millions of whom are already suffering the economic and health effects of the COVID-19 pandemic.
“The U.S. Department of Health and Human Services previously acknowledged the flaws in this policy publicly when the agency withdrew it in 2019. Further, it will do nothing to lower the drug prices which are set and routinely raised by drug companies alone. The Biden Administration and Congress must work together to protect seniors from higher premiums by overturning this rule and enacting reforms that lower the prices of prescription drugs.”