The Latest: Trump aims to reduce drug costs under Medicare - WKOW 27: Madison, WI Breaking News, Weather and Sports

The Latest: Trump aims to reduce drug costs under Medicare

Posted: Updated:
  • NationalMore>>

  • California couple charged with torture of kids due in court

    California couple charged with torture of kids due in court

    Friday, February 23 2018 7:07 AM EST2018-02-23 12:07:29 GMT
    (Mike Blake/Pool Photo via AP, File). FILE - In this Jan. 24, 2018 file photo, Louise Turpin appears in court in Riverside, Calif. David and Louse Turpin, who are charged with torturing their children by starving, beating and shackling them, are schedu...(Mike Blake/Pool Photo via AP, File). FILE - In this Jan. 24, 2018 file photo, Louise Turpin appears in court in Riverside, Calif. David and Louse Turpin, who are charged with torturing their children by starving, beating and shackling them, are schedu...
    A California couple charged with torturing their children by starving, beating and shackling them is due in court.More >>
    A California couple charged with torturing their children by starving, beating and shackling them is due in court.More >>
  • GOP, Dem governors push national health care compromise

    GOP, Dem governors push national health care compromise

    Friday, February 23 2018 7:07 AM EST2018-02-23 12:07:27 GMT
    A bipartisan group of governors says the two parties can and should work together to improve the nation's health care system.More >>
    A bipartisan group of governors says the two parties can and should work together to improve the nation's health care system.More >>
  • Forgot about that joint? Vegas airport lets people dump pot

    Forgot about that joint? Vegas airport lets people dump pot

    Friday, February 23 2018 7:07 AM EST2018-02-23 12:07:21 GMT
    (AP Photo/Regina Garcia Cano). Unidentified travelers exit the airport past a green metal container designed for "Disposal for Prescription and Recreational Drugs," set outside one of the entrances to McCarran International Airport in Las Vegas, Thursd...(AP Photo/Regina Garcia Cano). Unidentified travelers exit the airport past a green metal container designed for "Disposal for Prescription and Recreational Drugs," set outside one of the entrances to McCarran International Airport in Las Vegas, Thursd...
    Tourists catching a flight out of Las Vegas can now dump their leftover legal marijuana in metal containers set up at the airport.More >>
    Tourists catching a flight out of Las Vegas can now dump their leftover legal marijuana in metal containers set up at the airport.More >>

By RICARDO ALONSO-ZALDIVAR
Associated Press

WASHINGTON (AP) - The Latest on proposals by President Donald Trump and in the Senate budget bill to lower drug prices for Medicare beneficiaries (all times local):

9 p.m.

President Donald Trump is proposing to lower prescription drug costs for Medicare beneficiaries by allowing them to share in rebates that drug companies pay to insurers and other middlemen.

A senior administration official outlined the plan on condition of anonymity Thursday ahead of the release of Trump's 2019 budget plan next week.

Pharmaceutical companies now pay rebates to insurers and pharmacy benefit managers to help their medications gain a bigger slice of the market.

Insurers apply savings from rebates to keep premiums more manageable.

Under Trump's proposal, seniors covered by Medicare's "Part D" prescription benefit would be able to share in the rebates for individual drugs that they purchase at the pharmacy.

The plan also expands Medicare's "catastrophic" drug benefit so many seniors with very high costs would not face copayments.

___

6:29 p.m.

The congressional budget deal would shift a bigger share of Medicare's medication costs to drug companies, a change that could help limit future increases in beneficiaries' premiums for prescription coverage.

Changes to Medicare's popular "Part D" prescription plan headline a long list of budget-deal tweaks to the government's premier health insurance program, which covers about 60 million seniors and disabled people.

Also, the drug coverage gap known as the "doughnut hole" would be eliminated one year earlier than currently scheduled, in 2019 instead of 2020.

Another provision would raise premiums paid by the wealthiest retirees for coverage of outpatient services and prescription drugs.

And the deal would permanently repeal current limits on outpatient rehab services, such as physical and occupational therapy. Previously, Congress had routinely waived the therapy caps

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly