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Medicaid News

Affordable Care Act (Obamacare) Saves $17.7 Billion on Prescription Drugs for States

CMS issues new rule to cut costs, increase transparency in Medicaid drug pricing to save taxpayers money

Jan. 31, 2012 - Provisions in the health care reform law, the Affordable Care Act (often called “Obamacare” by Republicans), will save taxpayers and States an estimated $17.7 billion over five years on prescription drugs bought through Medicaid, according to estimates in a proposed rule issued today by the Centers for Medicare & Medicaid Services (CMS).

Today’s announcement, implementing the Medicaid prescription drug provisions of the Affordable Care Act, will increase transparency in drug pricing and ensure taxpayers and States are not overpaying for prescription drugs.

 

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Administration Ties Medicaid Private Care to Performance; More Control to States

Latest signal Feds will give broad leeway to states to expand Medicaid to private managed care if they meet performance measures

By Phil Galewitz,KHN Staff Writer

Dec 14, 2011


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“Thanks to the Affordable Care Act, we will save taxpayers billions of dollars each year on prescription drugs in Medicaid,” said CMS Acting Administrator Marilyn Tavenner. “Today's announcement puts in place simple measures that will cut costs, increase transparency and benefit consumers.”

The proposed regulation reduces costs through a number of improvements, including:

   ● Aligning reimbursement rates to better reflect the actual price the pharmacy pays for the drug;

   ● Increasing rebates paid by drug manufacturers that participate in Medicaid, and;

   ● Providing rebates for drugs dispensed to individuals enrolled in a Medicaid managed care organization.

Several States have implemented similar initiatives to inject fairness into prescription drug pricing. Alabama, for example, estimates a savings of $30 million in one year alone from an initiative to better understand and align reimbursements with the prices pharmacies pay for prescription drugs.

In 2009, Medicaid spent $15.8 billion on prescription drugs. This proposed rule will implement initiatives designed to save the program $17.7 billion over five years.

The Medicaid Pharmacy Regulation notice of proposed rulemaking can be found in the Federal Register at: http://www.ofr.gov/OFRUpload/OFRData/2012-02014_PI.pdf .

The Proposed Rule will publish in the Federal Register on February 2, 2012 at which time it can be viewed here – http://www.gpoaccess.gov/fr/. The comment period will close on April 2, 2012.

Stakeholders will have 60 days from the publication date to submit public comments. CMS plans to issue a final rule in 2013.

 

Financial Relief for Volkswagen Diesel Owners

You may be eligible for money damages if you owned or leased one of these VW, Porsche or Audi vehicles.

In the major scandal of 2015, Volkswagen cheated you and the world. They rigged diesel emission controls so you, nor regulators, would know how much pollution their cars were adding to our environment.

They were caught and have reserved $7.3 billion to help "make it right" with victims.

If you owned or leased one of these vehicles, contact us now.

 Beth Janicek, Board Certified Personal Injury Attorney Janicek Law attorneys are actively pursuing these cases against VW. Do Not Wait...

Janicek Law Firm, PC

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1-877-795-3425 or Email

Vehicles Involved

VW Jetta (2009–2015)

VW Jetta SportWagen (2009–2014)

VW Golf (2010-2015)

VW Golf SportWagen (2015)

VW Beetle (2012–2015)

VW Passat (2012-2015)

Audi A3 (2010-2015)

VW Touareg (2009–2016)

Porsche Cayenne (2015)

Audi A6, A7, A8, Q5 Quattro (2016)

 

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