Price Increases Continue to Outpace Inflation for Many Medicare Part D Drugs

KFF February 4, 2021
Juliette Cubanski, Tricia Neuman

In response to strong public support for government to address rising prescription drug prices, President Biden endorsed several proposals during his campaign, including limiting drug price increases to no more than the rate of inflation – limits that would apply to both Medicare and a new public option. During the 116^th Congress, both the House of Representatives and Senate Finance Committee adopted proposals to limit annual increases in drug prices to the rate of inflation, although neither proposal was brought up for a floor vote in the Senate. The House-passed bill (H.R. 3) would have required drug manufacturers to pay a rebate to the federal government if their prices for drugs covered under Medicare Part B and Part D increased...

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