Starting in 2028, Medicare could bargain over 50 drug prices a year instead of 15. More newer drugs could be included, and many price caps would be lower.
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SMART Prices Act is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on Finance.
Latest action on S. 1836: Read twice and referred to the Committee on Finance.
Who this affects: This bill mainly affects people on Medicare, drug companies, Medicare drug plans, and the federal government. People on Medicare could see changes if lower prices affect premiums or out-of-pocket costs. Drug makers could face earlier and larger discounts on more products. Medicare and drug plans would have to handle a much bigger negotiation process starting in 2028.
Why this matters: Drug costs can strain people on Medicare and the federal budget. This bill would let Medicare press for lower prices on more drugs and do it sooner. That could save money for the government and possibly for some patients. It could also change drug company revenue and choices about pricing or research, though the exact effects are uncertain.
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