
A new report released today by the Department of Health and Human Services outlines the Biden Administration’s plans to address high drug prices. The report recommends the pursuit of legislation that would enable price negotiation in Medicare Parts B and D, with those negotiated prices also available to the federal marketplace, commercial plans and employers who want to participate; Medicare Part D reform, including a cap on beneficiary out-of-pocket spending; and legislation that would slow price increases over time on existing drugs and speed entry of biosimilars and generics to the marketplace while increasing their prescribing by clinicians.