There are two new Medicare bills in Congress: H.R. 3261 and S. 1884. S. 1884 is in the United States Senate and H.R. 3261 is in the House Of Representatives.

These bills create Medicare administered plans with a standard premium and confirmed formulary.

The proposed legislation could reduce confusion on the part of those with Medicare coverage who have to navigate so many plans that have formularies that can change annually.

The legislation could also reduce confusion on the part of those with Medicare coverage who at times receive notices that their plan is no longer available.

Prescription prices could be lower and the federal government could save money as well.

These bills will amend title XVIII of the Social Security Act so it will deliver lower prescription drug prices under the Medicare program.

The Medicare Prescription Drug Savings and Choice Act of 2015 and 2016 would permit the Secretary of Health and Human Services to negotiate Medicare prescription drug prices. This is currently not allowed though other governmental bodies such as the Veterans Administration can in fact negotiate Medicare prescription drug prices.

Medicare Watch states that in order to address the high cost of medications, 86 percent of respondents to KFF’s Health Tracking Poll are in favor of requiring pharmaceutical companies to provide information on how they set drug prices. When asked whether they think the federal government should be allowed to negotiate with prescription drug manufacturers to secure lower prices on medications for people with Medicare, 84 percent said they were in favor of this policy.

The full text of H.R. 3261 is here for your convenience.
pdf-medicare-2015-drug-savings-114s1884is

Details of bill:

The Medicare Prescription Drug Savings and Choice Act of 2015
Introduced: Jul 29, 2015
Status: Referred to Committee on Jul 29, 2015
This bill was assigned to a congressional committee on July 29, 2015, which will consider it before possibly sending it on to the House or Senate as a whole.

Sponsor:Sen. Durbin, Richard
Cosponsors:
Baldwin, Tammy
Brown, Sherrod
Hirono, Mazie
King, Angus
Reed, John “Jack”
Whitehouse, Sheldon

In the House-Sponsor:Rep. Schakowsky, Janice D.

Medicare Rights Group recently expressed support for the two bills that would address high prescription drug cost in Medicare Part D.

This month, the Kaiser Family Foundation (KFF) released its latest Health Tracking Poll describing what Americans think about prescription drug costs. According to the poll, 72 percent of Americans think prescription drug costs are “unreasonable” and 74 percent feel that Americans pay more for the same drugs sold in other countries, including Canada, Mexico, and countries in Western Europe.

Click here to view the KFF tracking poll.

KFF poll results stated herein thanks to Medicare Watch and the Kaiser Family Foundation.