The Trump Administration has rolled out a regulation they call the Rebate Rule. This was introduced as a solution to lowering the cost of prescription drugs. While I join the chorus of most of Americans in agreement that the cost of prescription drugs is exorbitant in concert with healthcare costs as a whole, but this regulation is disguised as something helpful, but in fact, is damaging, misleading and must be stopped.
The administration claims the Rebate Rule will save consumers money, but the government’s own actuaries at the Centers for Medicare and Medicaid Services (CMS) calculated that premiums for Medicare Part D beneficiaries, who include seniors and the disabled, will increase 19 percent in 2020 and climb to 25 percent overall if this rule is enacted. Additionally, CMS predicts that the rule will increase federal spending by $200 billion. The CMS report also finds that large pharmaceutical companies will keep money that otherwise would be passed on to consumers through rebates — adding $137 billion to Big Pharma’s bottom line.
Now these figures might explain why this administration finds the regulation to be in line with its overall agenda. As chair of the Ways and Means Committee, Congressman Neal has a powerful microphone to speak from and oppose this rule. His committee oversees federal healthcare program administration. As his MA-01 constituent, I urge Congressman Neal to take a formal stance against this rule and work to stop this regulation that hits seniors and disabled human beings hardest of all.
Sara Seinberg
Leyden