H.R.4138: Medicare Drug Price Negotiation Act

Author's Summary:  To amend title XVIII of the Social Security Act to provide for the negotiation of lower covered part D drug prices on behalf of Medicare beneficiaries and the establishment and application of a formulary by the Secretary of Health and Human Services under Medicare part D, and for other purposes.

IB Summary:  According to US Rep Lloyd Doggett (D, TX): "Drug pricing in America is a tangled mess, a knot that will take more than one cut to pull apart. Harnessing the purchasing power of Medicare and negotiating better deals for drugs through a process similar to that already available for our veterans is a significant first cut at the knot."

Status: Introduced on 10/26/2017. Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Links: https://www.congress.gov/bill/115th-congress/house-bill/4138/text?r=3; https://www.congress.gov/bill/115th-congress/senate-bill/2011