Health Affairs December 24, 2025
Editor’s Note
This article is the latest in the Health Affairs Forefront featured topic, “Health Policy at a Crossroads,” produced with the support of the Commonwealth Fund and the Robert Wood Johnson Foundation. Articles in this topic offer timely analysis of regulatory, legislative, and judicial developments in health policy under the Trump-Vance Administration and the 119th Congress.
On Friday, December 19, the Centers for Medicare & Medicaid Services (CMS) proposed two models aiming to implement international reference pricing approaches for drugs under Medicare: the GLOBE (Global Benchmark for Efficient Drug Pricing) Model in Medicare Part B, and the GUARD (Guarding U.S. Medicare Against Rising Drug Costs) Model in Medicare Part D. As proposed, both models would be mandatory for any...
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