Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) updated their drug pricing bill with new measures expected to be released in December, according to Politico's Prescription Pulse newsletter.
The new version of the bill reportedly will reduce consumers' out-of-pocket costs and adjust the planned out-of-pocket cap for seniors in Medicare Part D to provide "more flexibility when it comes to upfront costs."
The revamped bill may allow seniors to spread out their out-of-pocket costs in Part D over the course of a year, according to Politico. A senate aide told Politico the senators are also hoping to lower cost-sharing for seniors in the initial coverage phase of Medicare Part D.
Mr. Wyden reportedly hinted the updated bill may contain measures to reform the pharmacy benefits management industry to address insulin costs.
The biggest obstacle the initial bill faced was penalizing drugmakers if they raise prices faster than inflation. Republicans have said it's too similar to government price setting, but Mr. Grassley insists the measure is necessary to keep Democrats on board.
Tara O'Neill Hayes, deputy healthcare policy director at nonprofit, center-right 501(c)(3) think tank American Action Forum, told Politico there could be a compromise if inflation penalties are only for drugs that are part of Medicare Part D's protected classes.
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