Trending News Today: New CVS Drug Pricing Model Seeks to Lower Costs, Improve Transparency
Top news of the day from across the health care landscape.
CVS Health Corp will launch a new prescription-drug benefit model next month guaranteeing health plan members 100% of any rebates, discounts, or additional fees paid by manufacturers, according to The Washington Post. The new plan seeks to improve the predictability of costs and add transparency to the highly scrutinized prescription drug market. The plan will feature guaranteed net pricing for average prescription claims, all rebates and administrative fees will be passed through to CVS clients, and the pharmacy benefit manager will shoulder the responsibility for manufacturer price increases and shifts in the mix of branded and generic drugs, the article noted.
Sen Joe Manchin (D-WV) is seeking to revive bipartisan efforts to stabilize the Affordable Care Act (ACA), according to a report by The Hill. The proposal, put together last year by Sens Lamar Alexander (R-TN) and Patty Murray (D-WA), sought to reduce ACA premiums but ultimately fell apart due to a dispute regarding restrictions on funding for abortions, the article reported. Manchin met with President Donald Trump in an effort to gain support for the legislation. “I said he's the one who can make a difference,” Manchin said, as reported by The Hill. “We already have a bipartisan agreement. If he signs onto it, it would be great.”
Beneficiaries in New Hampshire’s expanded Medicaid program will be forced to comply with new requirements in which they must report 100 hours of work, job training, education, or volunteer activity per month, which is higher than the 80 hours mandated in most states, according to New Hampshire Public Radio. The report noted that state officials are still determining the cost of enforcing the new requirements but projected it will affect approximately 15,000 beneficiaries. “We believe that there could be between 15,000 or 20,000 individuals who may not have a statutory exemption and they may not be working sufficient hours presently," state Department of Health and Human Services Commissioner Jeffrey Meyers told NHPR.