UPDATED 6:35 AM PT — Fri. February 9, 2018
The Trump administration is laying out plans to lower prescription drug prices for Medicare recipients.
A senior White House official detailed the president’s proposal, saying it will allow seniors covered under Medicare Part D to share the Big Pharma rebates.
Currently, the rebates are paid by drug-makers to insurers and pharmacies, who maintain a stable market demand for the Big Pharma.
The president’s plan is set to not only reduce drug costs, but will also make outpatient procedures cheaper.
Experts say while President Trump’s proposal is good for Medicare recipients, pharmacies and insurers might respond by raising rates.