2022: Schweikert Voted Against Requiring The Department Of Health And Human Services To Negotiate Fair Prices With Drug Manufacturers For Certain Medicare-Eligible, Brand-Name Drugs Without Generic Competition. In August 2022, according to Congressional Quarterly, Schweikert voted against concurring in the Senate amendment to the Inflation Reduction Act of 2022, which would "require the Health and Human Services Department to negotiate a 'maximum fair price' with drug manufacturers for certain Medicare-eligible, brand-name drugs that do not have generic competition." The vote was on a motion to concur. The House concurred with the Senate by a vote 220-207, thus the bill was sent to President Biden for final signage. President Biden signed the bill and it ultimately became law. [House Vote 420, 8/12/22; Congressional Quarterly, 8/12/22; Congressional Actions, H.R. 5376]
The Inflation Reduction Act Fulfilled Democrats' Promise To Lower Prescription Drug Costs For Seniors. According to The Washington Post, "The proposal also would make good on Democrats' years-old pledge to reduce prescription drug costs for the elderly." [The Washington Post, 8/7/22]
The Bill's Provisions Reforming Prescription Drug Pricing Included An Authorization For The Federal Government To Negotiate Prescription Prices For A Small List Of Medicines Starting In 2026. According to The Washington Post, "The prescription drug pricing reforms aim to help cut costs for seniors enrolled in Medicare. It caps their out-of-pocket costs at $2,000 annually, while allowing the U.S. government to negotiate the price of a small set of medicines beginning in 2026." [The Washington Post, 8/7/22]
The Prescription Drug Pricing Reforms Would Save Seniors Money And Save Billions In Savings For The Federal Government Over The Next Ten Years. According to The Washington Post, "The landmark proposal is expected to save elderly Americans money and achieve billions in savings for Washington over the next decade." [The Washington Post, 8/7/22]
The Bill's Fair Negotiation Provision Will Take Effect Only For 10 Drugs Covered Under Medicare By 2026 And Will Increase To 20 Prescriptions In 2029. According to NPR, "The bill includes a historic measure that allows the federal health secretary to negotiate the prices of certain expensive drugs each year for Medicare. But this won't impact every prescription drug or every patient, and it won't take effect quickly. The negotiations will take effect for 10 drugs covered by Medicare in 2026, increasing to 20 drugs in 2029." [NPR, 8/7/22]
2022: Schweikert Voted Against Capping The Annual Out-Of-Pocket Limit At $2,000 For Medicare Part D. In August 2022, according to Congressional Quarterly, Schweikert voted against concurring in the Senate amendment to the Inflation Reduction Act of 2022, which "For Medicare Part D, it would cap the annual out-of-pocket limit at $2,000." The vote was on a motion to concur. The House concurred with the Senate by a vote 220-207, thus the bill was sent to President Biden for final signage. President Biden signed the bill and it ultimately became law. [House Vote 420, 8/12/22; Congressional Quarterly, 8/12/22; Congressional Actions, H.R. 5376]
The Bill's Provisions Reforming Prescription Drug Pricing Included A Cap On Out-Of-Pocket Costs For Seniors Enrolled In Medicare At $2,000 Annually. According to The Washington Post, "The prescription drug pricing reforms aim to help cut costs for seniors enrolled in Medicare. It caps their out-of-pocket costs at $2,000 annually, while allowing the U.S. government to negotiate the price of a small set of medicines beginning in 2026." [The Washington Post, 8/7/22]
The Cap For Out-Of-Pocket Prescription Costs For Medicare Recipients Will Go Into Effect In 2025. According to NPR, "The bill puts a cap of $2,000 on out-of-pocket prescription drug costs for people on Medicare, effective in 2025." [NPR, 8/7/22]
The Bill Also Directed The Medicare Program To Offer Free Vaccines To Patients. According to Congressional Quarterly, "Additionally, the bill would cap annual out-of-pocket costs for Part D patients at $2,000, and offer free vaccines to seniors in the Medicare program." [Congressional Quarterly, 8/7/22]
2022: Schweikert Voted Against Requiring Single-Source Drug Manufacturers To Grant Rebates For Prescription Drugs Under Medicare Parts B And D With Prices Higher Than Inflation. In August 2022, according to Congressional Quarterly, Schweikert voted against concurring in the Senate amendment to the Inflation Reduction Act of 2022, which would "require single-source drug manufacturers to provide rebates to HHS for the price of drugs under Medicare Parts B and D for which price increases outpace inflation." The vote was on a motion to concur. The House concurred with the Senate by a vote 220-207, thus the bill was sent to President Biden for final signage. President Biden signed the bill and it ultimately became law. [House Vote 420, 8/12/22; Congressional Quarterly, 8/12/22; Congressional Actions, H.R. 5376]
The Inflation Reduction Act Required Pharmaceutical Companies To Pay Rebates To Health And Human Services If They Increase The Medicare Drug Prices Greater Than Inflation. According to The Washington Post, "Pharmaceutical giants, which forcefully opposed the bill, also would be required to pay 'rebates' to the federal government if they raise Medicare drug prices beyond the rate of inflation." [The Washington Post, 8/7/22]
The Senate Parliamentarian Ruled That The Provision On Rebates For Prescription Prices Could Only Apply To Medicare And Not Private Health Insurances. According to NPR, "The parliamentarian also ruled that a measure that was in the bill to force drug companies to offer rebates if prescription prices outpaced inflation was not totally in line with the rules for budget reconciliation; she said that it could apply to Medicare patients but not those with private insurers." [NPR, 8/7/22]