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Drug price deal important for seniors

As the Democrats in Congress worked on the final draft of the $1.75 trillion domestic policy bill, one of the parts that fell by the wayside was legislation to lower the cost of prescription drugs. Fortunately, a deal announced Tuesday brings it back into the bill, smaller perhaps than before, but still an important win for the nation’s seniors .

According to Sen. Chuck Schumer, for the first time Medicare will be able to negotiate prescription drug prices in its Part B and Part D programs. There is also a $2,000 cap on out-of-pocket costs for those older Americans with the Part D prescription drug benefit, who number some 48 million, Democrats said.

And there would be “a new monthly cap on the price of insulin, and an ‘inflation’ rebate policy to protect consumers from egregious annual increases in prices,” Schumer said.

Meanwhile, negotiations continue on the wide variety of issues covered by the bill. With every Democratic senator’s vote needed to pass the bill, each one has the power to hold up the legislation for their own particular issue.

That’s a whole lot of log rolling to do before the bill takes its final form.

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