I support the Medicare Drug Savings Act, which would require pharmaceutical companies to charge more reasonable prices for drugs used by low-income seniors and people with disabilities, a common-sense change to level the playing field for Medicare Part D and save taxpayers money.
Support requiring pharmaceutical companies to charge more reasonable prices for drugs used by low-income seniors and people with disabilities under Medicare Part D.
Occurrences
Co-sponsoring legislation to reduce prescription drug costs for Medicare, and fighting to require pharmaceutical companies to reduce drug prices for low-income seniors and people with disabilities.
Evidence
Schatz joined the Medicare Drug Savings Act, which would require rebates for drugs used by dual eligibles and other low-income-subsidy Medicare Part D enrollees.
Congress.gov lists S.740 as introduced and referred to Senate Finance. CRS says it required manufacturer rebates for rebate-eligible low-income Part D individuals.
On passage of H.R. 5376 as amended, the bill passed 50-50 with the Vice President voting yea; Schatz (D-HI) voted yea.
CMS says the Inflation Reduction Act gives Medicare direct negotiation authority; negotiated maximum fair prices for 10 Part D drugs took effect January 1, 2026.
CMS says it assessed inflation rebates to manufacturers that raised prices of certain Medicare Part D drugs faster than inflation, with first invoices covering periods beginning October 1, 2022 and October 1, 2023.
Assessments
Schatz clearly supported the specific targeted Medicare Part D rebate policy by joining the Medicare Drug Savings Act in 2013, but that exact low-income-subsidy rebate proposal did not become law. Later, he voted for the Inflation Reduction Act, which implemented broader Part D price negotiation and inflation rebate mechanisms affecting drug prices, but those were not the same targeted requirement for drugs used by low-income seniors and people with disabilities. The promise was substantially advanced but only partially delivered through broader policy mechanisms.