HealthCare Roundtable e-News – July 24, 2020

Breaking News: Trump Signs Executive Orders, Includes Policy to Eliminate Medicare Part D Rebates

Earlier today, President Trump signed several Executive Orders aimed at lowering the cost of prescription drugs in the U.S. Unfortunately, notwithstanding reliable reports to the contrary, the President ultimately chose to include the elimination of rebates in Medicare Part D as one of the four policies. 

The Roundtable strongly opposes this decision along with our stakeholder allies, including consumer groups, health plans, PBM partners, and many others. The decision today will raise premiums for public sector retirees and their dependents, and according to official estimates by the HHS’s own Office of the Actuary, the previous proposed rule to eliminate the safe harbor for rebates would increase premiums in Medicare Part D overall by 25%. We will keep you informed as we work with friends, allies, and all of you during this rulemaking process to reverse this damaging policy.

The President also finalized a proposed rule to peg Medicare reimbursement for specialty drugs under Medicare Part B to lower prices in other developed countries that more heavily regulate rates (more information can be found here), as well as allowing for a long-standing Roundtable priority of allowing for reimportation of drugs from Canada.

Please do not hesitate to reach out to Roundtable Senior Policy Advisor, Andrew MacPherson, with questions or comments regarding today’s Executive Orders signed by President Trump. Also, please continue to monitor our Weekly e-News updates for additional information on these orders.