Biden Proposes Expanding Medicare Drug Negotiation, Extending Rebates To Private Insurers

President Joe Biden doubles down on CMS’ controversial new drug price authority in his newly unveiled plan to extend the Medicare trust fund by at least 25 years, calling for prices to be negotiated for more drugs and sooner than currently planned. He also proposes extending the Inflation Reduction Act’s requirement that drug makers pay rebates when prices rise faster than inflation to commercial insurers, and capping Part D cost-sharing on certain generic drugs at $2 per prescription per month...