Senators Warner and Kaine applaud agreement in Drug Price Negotiation Program

Senators Mark Warner and Tim Kaine applauded the announcement of 10 drug manufacturers who agreed to participate in the Inflation Reduction Act’s Medicare Drug Price Negotiation Program.

The act was passed last year to allow Centers for Medicare and Medicaid Services to negotiate prescription drug prices for the first time in history.

This will help lower costs for millions of Americans.

CMS will now negotiate directly with drug companies and the new prices will begin January 1, 2026.

Then CMS will select 15 new drugs that will be eligible for negotiation in 2027.

The Congressional Budget Office estimated these negotiations will lower Medicare spending by $98.5 billion over 10 years.

To view the full announcement, click here.

For more news from across the Shenandoah Valley, click here.

Senator Warner leads legislation against rising drug prices

The Senate Finance Committee voted 26-1 yesterday to approve the Modernizing and Ensuring PBM Accountability Act.

The bipartisan legislation is aimed at helping address rising prescription drug prices by regulating intermediaries who manage prescription drug benefits for health insurance companies.

Included in the act are multiple bills proposed by Senator Mark Warner including the PBM Reporting Transparency ACT which holds PBMs accountable for providing good value to seniors and Medicare by making more information available to the public about their contracts.

The IMPROVE Part D Regulations Act is also included which requires listening sessions to be held about improvements to Medicare Part D.

An amendment in the bill was also proposed by Warner which ensures smaller pharmacies receive fair reimbursement when serving medically complex patients.

For more news from across the Shenandoah Valley, click here.

Warner introduces advance care planning act

Senator Mark Warner introduced the bipartisan Improving Access to Advance Care Planning Act with Senator Susan Collins.

The goal is to expand access to critical advance care planning services in Medicare which will allow people with serious illnesses to plan for their care and have their choices honored.

The act will allow social workers to provide ACP services, remove beneficiary cost-sharing, increase provider education on ACP codes, and improve reporting of barriers to ACP services.

Senator Warner first introduced legislation to improve planning options for patients in 2015.

For more news from across the Shenandoah Valley, click here.