Photo source: Citizens Against Government Waste
Here we go again. Even though the private and competitive negotiations in Medicare Part D among insurers, pharmacy benefit managers (PBMs), drug manufacturers, and pharmacists resulted in lower than expected costs and high satisfaction, the Biden administration is calling for this system to be replaced with government-negotiated pricing, which is currently prohibited by the non-interference clause in Medicare law that protects market competition. They claim that there would be significant savings, and this time they want to use this money to help pay for President Biden’s prolific “infrastructure” package. But the government does not negotiate prices, it sets prices and uses price controls to achieve its objectives.
Read more: No Government Price Controls to Pay for Biden’s Gargantuan Spending Bill
