Navigation Links
PhRMA Statement on Medicare Part D Coverage Gap
Date:6/20/2009

WASHINGTON, June 20 /PRNewswire-USNewswire/ -- Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Billy Tauzin and PhRMA Board Chairman David Brennan, Chief Executive Officer, AstraZeneca, issued the following statement regarding today's commitment, as part of health care reform, to help close the coverage gap in the Medicare prescription drug program (Part D):

"PhRMA is committed to working with the Administration and Congress to help enact comprehensive health care reform this year. We share a common goal: every American should have access to affordable, high-quality health care coverage and services.

"As part of that reform, one thing that we have agreed to do is support legislation that will help seniors affected by the coverage gap in the Medicare prescription drug benefit. Although the program has been a tremendous success for the vast majority of seniors, the coverage gap has posed a challenge to some seniors and our companies have been exploring ways to address this issue for several years.

"Under this proposed new legislative program - which represents the first important step in health care reform - America's pharmaceutical research and biotechnology companies have agreed to help close the gap in coverage. Specifically, companies will provide a 50 percent discount to most beneficiaries on brand-name medicines covered by a patient's Part D plan when purchased in the coverage gap.

"In addition, the entire negotiated price of the Part D covered medicine purchased in the coverage gap would count toward the beneficiary's out-of-pocket costs, thus lowering their total out-of-pocket spending. Importantly, the proposal would not require any additional paperwork on the part of the beneficiary nor would an asset test be used for eligibility.

"Since its inception, strong competition among drug plans participating in the Medicare drug benefit has led to significant savings for seniors. On average, beneficiaries are saving $1,200 annually on their medicines, and the average low-income beneficiary saves $3,900, according to the Centers for Medicare and Medicaid Services. This agreement will help to provide additional savings to even more seniors across the nation.

"Even though Medicare beneficiaries are satisfied with their prescription drug coverage - as evidenced by a recent Medicare Today survey showing overall satisfaction has grown from 78 percent at the start of the program in 2006 to 84 percent in 2009 - we have constantly explored ways to improve the benefit.

"This commitment to support legislation that will help close the coverage gap reflects our ongoing work with Congress and the Administration to make comprehensive health care reform a reality this year."

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.

PhRMA Internet Address: http://www.phrma.org

For information on stories of hope and survival, visit: http://sharingmiracles.com/

For information on how innovative medicines save lives, visit: http://www.innovation.org

For information on the Partnership for Prescription Assistance, visit: http://www.pparx.org

For more information on public health emergencies, visit http://www.rxresponse.org

For information on the danger of imported drugs, visit: http://www.buysafedrugs.info/


'/>"/>
SOURCE Pharmaceutical Research and Manufacturers of America
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. PhRMA Launches Campaign to Raise Awareness of Success of Medicare Prescription Drug Benefit
2. PhRMA Statement on Healthcare Reform Coalition
3. American Slide Chart/Perrygraf "SlideGuides" and "SpinGuides" Help Drug Companies Satisfy New PhRMA Guidelines
4. PhRMA Honors Gardasil(r) Researchers With Discoverers Award
5. AstraZenecas David Brennan Elected PhRMA Board Chairman
6. PhRMA Statement on Expansion of SCHIP
7. DIA/FDA/PhRMA Drug Safety Conference: Planning the Lifecycle of Safety Evaluation
8. Revised PhRMA Marketing Code Calls for More Educational Materials for Health Care Providers and Staff - Anatstat Health Education Can Help
9. Eisai Renews Its Commitment to Responsible Healthcare Community Interactions in Accordance with the Revised PhRMA Marketing Code
10. Johnson & Johnson Announces Commitment To Adopt Revised PhRMA Marketing Code for Responsible Interactions With Healthcare Professionals
11. PhRMA Revised Marketing Code Reinforces Commitment to Responsible Interactions With Healthcare Professionals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/29/2017)... ... March 29, 2017 , ... Full Contact K9, an Atlanta-based dog ... Protect Law that assists dog owners in creating legally-enforceable pet trusts for their ... the natural next step to protect their new companion. Says Evan Dunbar, CEO of ...
(Date:3/29/2017)... ... ... CHARM CITY RUN WELCOMES MERCY MEDICAL CENTER AS , BALTIMORE WOMEN’S CLASSIC TITLE ... the official title sponsor of the Baltimore Women’s Classic, the largest all women’s 5K ... walk or run the course around the Baltimore Inner Harbor. Mercy has been the ...
(Date:3/29/2017)... ... March 30, 2017 , ... Sublime Naturals and its founder, Kathy Heshelow, ... Spice", it has been used for thousands of years. , "The West has caught ... of " Turmeric: How to Use it For Your Wellness. Overcome Inflammation, Enemy of ...
(Date:3/29/2017)... ... March 29, 2017 , ... Wells Pharmacy Network, ... prescribers at the upcoming World Congress, in Hollywood Florida April 6-8, 2017. , ... as the visionary leader in the training of physicians, scientists, and members of ...
(Date:3/29/2017)... ... March 29, 2017 , ... The Wall Centre Dental team ... patients from Burnaby, BC. Patients in need of experienced orthodontics, laser dentistry, porcelain ... the esteemed team at Wall Centre Dental. Drs. Parviz Roshan, Siamak Tehrani, Milton ...
Breaking Medicine News(10 mins):
(Date:3/29/2017)... , March 29, 2017 Avelas Biosciences, Inc., a clinical ... through treatment, today announced that Carmine N. Stengone , president ... at the Needham & Company 16 th Annual Healthcare Conference ... PDT) at the Westin Grand Central Hotel in New ... ...
(Date:3/29/2017)... , March 29, 2017 Today, CVS Health ... Kim Reynolds , Department of Public Health Director ... Steve Lukan in announcing the availability of the ... Pharmacy locations in Iowa.  CVS Health has established a standing ... allows CVS Pharmacy to expand access to the medication in ...
(Date:3/29/2017)... CREEK, Calif. , Mar 29, 2017 /PRNewswire/ ... cervical-fusion technology, announced the addition of two industry ... Lynch has joined the company to lead ... assuming International leadership.  Together, Mr. Lynch and Mr. ... experience.  Mr. Lynch joins the ...
Breaking Medicine Technology: