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:7/20/2017)... Orange, NJ (PRWEB) , ... July 20, 2017 , ... ... people wondering if herniated and bulging discs are the same thing. But it’s crucial ... in order to seek proper treatment, according to Kaixuan Liu, MD, PhD, founder and ...
(Date:7/20/2017)... ... 20, 2017 , ... A budget proposal to switch to an alternate consumer ... adjustment (COLA) is a bad deal for older and disabled Americans, says The ... grow even more slowly than the conventional one that is currently used to determine ...
(Date:7/20/2017)... ... ... Dr. Jig Patel is pleased to announce openings for new patients who are ... difficulties that face people who are missing teeth , he offers education about ... and bridges. Not only does an implant improve oral health, it also restores the ...
(Date:7/20/2017)... (PRWEB) , ... July 19, 2017 , ... ... a $1.5 million Health Resources and Services Administration (HRSA) grant to train predoctoral ... special health care needs in rural and underserved areas. , The Predoctoral Pediatric ...
(Date:7/20/2017)... (PRWEB) , ... July 19, 2017 , ... ... “surprising habits” that may sometimes lead to, or worsen, varicose veins in some ... Center notes that, while avoiding certain not-so-good practices, like excessive sitting or standing, ...
Breaking Medicine News(10 mins):
(Date:7/12/2017)... , July 12, 2017  Eli Lilly and Company ... agreement with generic companies to resolve pending patent litigation in ... Virginia regarding the Cialis ® (tadalafil) ... on April 26, 2020. As part of the agreement, Cialis ... September 27, 2018. "The unit dose patent for ...
(Date:7/11/2017)... 11, 2017  Dr. Echenberg, founder of Echenberg Institute, is announcing a ... who suffer from painful intercourse and other painful pelvic pain conditions such ... to menopause. ... LLC ... Sarasota, Florida -based start-up company, VuVatech LLC, fills a void ...
(Date:7/10/2017)... CARLSBAD, Calif. , July 10, 2017  The ... in Boston, MA at the ... unequaled value and unparalleled access to global decision makers ... to draw 800+ life science leaders during two impactful ... Boston, and provides delegates with additional networking opportunities with ...
Breaking Medicine Technology: