Response to Senate Finance RFI on Lowering Drug Prices for Patients
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The Health Care Affordability Lab at Yale submitted a response to the Senate Finance Committee's request for information, Commonsense Policy Options to Lower Drug Prices for Patients, from Ranking Member Ron Wyden. Drawing on rigorous, nonpartisan health economics research, our comments lay out practical, evidence-based options to lower drug prices without sacrificing quality. To lower prices directly, we point to better-targeting the incentives in the Orphan Drug Act and spurring biosimilar competition through a single, shared Medicare Part B billing code. To improve affordability, we highlight the evidence for eliminating cost-sharing for insulin, banning copay coupons on branded drugs that have generic substitutes, and reevaluating medical loss ratio rules for vertically integrated insurers, PBMs, and pharmacies.
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