WASHINGTON – Congressional Democrats announced Tuesday that they have agreed to a broad plan to overhaul the way America pays for prescription drugs.
Under the agreement, Medicare would be allowed to negotiate drug prices for drugs dispensed over the pharmacy counter and those administered at doctor’s offices for drugs over 9 or 12 years old, depending on the type of drug. Drug makers should pay penalties if they increase prices faster than inflation, including for employer-sponsored insurance plans. Elderly reimbursable expenses would be capped at $ 2,000 per year. Insulin prices per dose will also be capped.