Protecting Patient Access to Cancer and Complex Therapies Act of 2023
The source supplies the latest action, but no lifecycle stage.
Latest action (12 Sep 2023): Read twice and referred to the Committee on Finance.
What this bill does
This bill, S. 2764, introduced by Senator Barrasso, aims to create a rebate system for certain prescription drugs and biological products covered under Medicare Part B. Specifically, it would require manufacturers of "selected drugs" subject to maximum fair price negotiation to pay a rebate to the government. This rebate would be calculated based on the difference between the drug's standard payment rate and the negotiated maximum fair price.
The legislation would affect manufacturers of these selected drugs and potentially beneficiaries. For beneficiaries, it would adjust how coinsurance is calculated for these drugs, basing it on the negotiated maximum fair price rather than the standard payment rate. The rebates collected would be deposited into the Federal Supplementary Medical Insurance Trust Fund.
This bill was introduced in the Senate on September 12, 2023, and referred to the Committee on Finance. As of its introduction, it has not advanced further and has not received a vote.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
12 Sep 2023
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 2764 do?
- This bill, S. 2764, introduced by Senator Barrasso, aims to create a rebate system for certain prescription drugs and biological products covered under Medicare Part B. Specifically, it would require manufacturers of "selected drugs" subject to maximum fair price negotiation to pay a rebate to the government. This rebate would be calculated based on the difference between the drug's standard payment rate and the negotiated maximum fair price. The legislation would affect manufacturers of these selected drugs and potentially beneficiaries. For beneficiaries, it would adjust how coinsurance is calculated for these drugs, basing it on the negotiated maximum fair price rather than the standard payment rate. The rebates collected would be deposited into the Federal Supplementary Medical Insurance Trust Fund. This bill was introduced in the Senate on September 12, 2023, and referred to the Committee on Finance. As of its introduction, it has not advanced further and has not received a vote.
- Has S. 2764 become law?
- The source does not supply a confirmed lifecycle stage for S. 2764. Check the latest action and official source below.
- Who sponsored S. 2764?
- S. 2764 was sponsored by Sen. Barrasso, John [R-WY] (R-WY), with 1 cosponsor.
- What's the latest action on S. 2764?
- Read twice and referred to the Committee on Finance. (12 Sep 2023).
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