Quantcast

The Latest: Trump aims to reduce drug costs under Medicare - Live5News.com | Charleston, SC | News, Weather, Sports

The Latest: Trump aims to reduce drug costs under Medicare

By RICARDO ALONSO-ZALDIVAR
Associated Press

WASHINGTON (AP) - The Latest on proposals by President Donald Trump and in the Senate budget bill to lower drug prices for Medicare beneficiaries (all times local):

9 p.m.

President Donald Trump is proposing to lower prescription drug costs for Medicare beneficiaries by allowing them to share in rebates that drug companies pay to insurers and other middlemen.

A senior administration official outlined the plan on condition of anonymity Thursday ahead of the release of Trump's 2019 budget plan next week.

Pharmaceutical companies now pay rebates to insurers and pharmacy benefit managers to help their medications gain a bigger slice of the market.

Insurers apply savings from rebates to keep premiums more manageable.

Under Trump's proposal, seniors covered by Medicare's "Part D" prescription benefit would be able to share in the rebates for individual drugs that they purchase at the pharmacy.

The plan also expands Medicare's "catastrophic" drug benefit so many seniors with very high costs would not face copayments.

___

6:29 p.m.

The congressional budget deal would shift a bigger share of Medicare's medication costs to drug companies, a change that could help limit future increases in beneficiaries' premiums for prescription coverage.

Changes to Medicare's popular "Part D" prescription plan headline a long list of budget-deal tweaks to the government's premier health insurance program, which covers about 60 million seniors and disabled people.

Also, the drug coverage gap known as the "doughnut hole" would be eliminated one year earlier than currently scheduled, in 2019 instead of 2020.

Another provision would raise premiums paid by the wealthiest retirees for coverage of outpatient services and prescription drugs.

And the deal would permanently repeal current limits on outpatient rehab services, such as physical and occupational therapy. Previously, Congress had routinely waived the therapy caps

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Government shutdown endNational politicsMore>>

  • Book Trump? Interest groups press case at his properties

    Book Trump? Interest groups press case at his properties

    Thursday, February 22 2018 1:27 AM EST2018-02-22 06:27:39 GMT
    Thursday, February 22 2018 8:06 AM EST2018-02-22 13:06:18 GMT
    (AP Photo/Alex Brandon, File). FILE - In this Dec. 21, 2016, file photo, the Trump International Hotel in Washington. Special interests are holding meetings at properties owned by President Donald Trump, putting money in his pockets as they seek to inf...(AP Photo/Alex Brandon, File). FILE - In this Dec. 21, 2016, file photo, the Trump International Hotel in Washington. Special interests are holding meetings at properties owned by President Donald Trump, putting money in his pockets as they seek to inf...
    Quid pro Trump? Special interests are holding meetings at properties owned by President Trump, putting money in his pockets as they seek to influence his administration.More >>
    Quid pro Trump? Special interests are holding meetings at properties owned by President Trump, putting money in his pockets as they seek to influence his administration.More >>
  • For decades Graham offered counsel and comfort to presidents

    For decades Graham offered counsel and comfort to presidents

    Thursday, February 22 2018 1:27 AM EST2018-02-22 06:27:28 GMT
    Thursday, February 22 2018 8:06 AM EST2018-02-22 13:06:12 GMT
    (AP Photo, File). FILE - In this Dec. 12, 1961 file photo,  Evangelist Billy Graham, left, talks with President John F. Kennedy during a call at the the White House in Washington.   Graham, who transformed American religious life through his preaching ...(AP Photo, File). FILE - In this Dec. 12, 1961 file photo, Evangelist Billy Graham, left, talks with President John F. Kennedy during a call at the the White House in Washington. Graham, who transformed American religious life through his preaching ...
    Billy Graham was a fixture of the presidency, offering counsel and comfort to the man in the White House.More >>
    Billy Graham was a fixture of the presidency, offering counsel and comfort to the man in the White House.More >>
  • Tearful student asks Trump, 'How do we not stop this?'

    Tearful student asks Trump, 'How do we not stop this?'

    Thursday, February 22 2018 12:24 AM EST2018-02-22 05:24:41 GMT
    Thursday, February 22 2018 8:06 AM EST2018-02-22 13:06:06 GMT
    (AP Photo/Carolyn Kaster). President Donald Trump, looks to Julia Cordover, the student body president at Marjory Stoneman Douglas High School in Parkland, Fla., as she speaks during the listening session with high school students, teachers, and others...(AP Photo/Carolyn Kaster). President Donald Trump, looks to Julia Cordover, the student body president at Marjory Stoneman Douglas High School in Parkland, Fla., as she speaks during the listening session with high school students, teachers, and others...

    Students and parents appealed to President Donald Trump to set politics aside and protect America's school children from the scourge of gun violence.

    More >>

    Students and parents appealed to President Donald Trump to set politics aside and protect America's school children from the scourge of gun violence.

    More >>
Powered by Frankly