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Summary of
Costs and Impact of the Prescription Drug Provisions in the Build Back
Better Act
As the House-passed
Build Back Better Act moves to the Senate, a new
explainer from KFF summarizes the key prescription drug
provisions within the broader budget reconciliation bill.
These provisions would
lower prescription drug costs paid by people with Medicare and private
insurance and curb drug spending by the federal government and private
payers. The Congressional Budget Office estimates federal budget savings
from the drug pricing provisions would be $297 billion over 10 years.
Although the bill passed the House with no Republican votes, the
prescription drug proposals have taken shape amidst strong bipartisan
support among the public for the government to address high and rising
drug prices.
The key prescription
drug proposals in the legislation would:
- Allow
the federal government to negotiate prices for some high-cost drugs
covered under Medicare Part B and Part D;
- Require
inflation rebates to limit annual increases in drug prices in
Medicare and private insurance;
- Cap
out-of-pocket spending for Medicare Part D enrollees and implement
other Part D benefit design changes;
- Limit
cost sharing for insulin for people with Medicare and private
insurance;
- Eliminate
cost sharing for adult vaccines covered under Part D, and
- Repeal
the Trump Administration’s drug rebate rule.
KFF will continue to
track these and other measures as the bill works its way through the
Senate. A separate
explainer summarizes and analyzes a wider array of the health
policy provisions in the budget reconciliation package.
For these and other
analyses related to the Build Back Better Act, visit kff.org.
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