3.0.0 2053 2023-01-15T10:03:18Z 2023-01-15T10:03:18Z Senate S S 2004-02-06 108 ssfi00 Finance Committee Senate Standing Referred to 2004-02-06T15:43:57Z 2004-02-06 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2004-02-06 Introduced in Senate IntroReferral 10000 9 Library of Congress S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. N W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR 2004-02-06 True F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2004-02-06 True J000072 Sen. Jeffords, James M. [I-VT] JAMES JEFFORDS I VT MERRILL 2004-02-26 False Health Armed Forces and National Security Coinsurance Commerce Congress Congressional investigations Congressional reporting requirements Consumer discounts Cost control Drug advertising Drug industry Drugs Economics and Public Finance Finance and Financial Sector Foreign Trade and International Finance Foreign corporations Government Operations and Politics Government paperwork Government procurement Government publicity Government trust funds Governmental investigations Health insurance Income tax Medical economics Medicare Medigap Military medicine Pharmacies Prescription pricing Restrictive trade practices Sales promotion Social Welfare Tax deductions Taxation Veterans' medical care Wholesale trade Health 00 2004-02-06 Introduced in Senate 2004-04-08T15:56:41Z Medicare Enhancements for Needed Drugs Act of 2004 - Directs the Comptroller General to review and report to Congress on the retail cost of prescription drugs in the United States during 2000 and 2003 with an emphasis on the prescription drugs most utilized for individuals age 65 or older. Requires the Comptroller General, after conducting such review, to review continuously the retail cost of such drugs through April 1, 2006, to determine the changes in such costs.

Requires the Comptroller General to conduct an ongoing study, for annual reports to Congress, that compares the average retail cost in the United States for each of the 20 most utilized prescription drugs for individuals age 65 or older with: (1) the average price at which private health plans acquire each such drug; (2) the average price at which the Department of Defense under the Defense Health Program acquires each such drug; (3) the average price at which the Department of Veterans Affairs under the laws administered by the Secretary of Veterans Affairs acquires each such drug; and (4) the average negotiated price for each such drug that eligible beneficiaries have access to under a Medicare prescription drug plan that provides only basic prescription drug coverage.

Amends title XVIII (Medicare) of the Social Security Act (SSA) to include in the comparative plan information for beneficiaries under new Medicare part D (Voluntary Prescription Drug Benefit Program) a comparison of average aggregate prescription drug plan beneficiary costs and savings with respect to covered part D drugs with such costs for the same drugs for a beneficiary with no prescription drug plan.

Repeals the prohibition against interference by the Secretary with the negotiations between drug manufacturers and pharmacies and prescription drug plan sponsors and the requirement of a particular formulary to institute a price structure for the reimbursement of Medicare part D covered drugs. Authorizes the Secretary instead, like other Federal entities that purchase prescription drugs in bulk, to negotiate contracts with manufacturers of covered part D drugs.

Amends the Internal Revenue Code to disallow a tax deduction for advertising expenditures of taxpayers who discriminate against foreign sellers of prescription drugs to domestic consumers.

Amends SSA title XVIII to authorize the Secretary to provide incentive payments out of the Medicare Advantage Regional Plan Stabilization Fund to sponsors offering prescription drug plans that provide enrollees with access to negotiated prices for payment of covered Medicare part D drugs. Requires such prices to be on average not more than ten percent greater than the lesser of: (1) the average price at which the Department of Defense under the Defense Health Program acquires such drugs; or (2) the average price at which the Department of Veterans Affairs acquires such drugs.

Requires the Secretary to request the National Association of Insurance Commissioners to review and report to Congress on the changes to the rules relating to Medicare supplemental policies that provide prescription drug coverage under new Medicare part D.

]]> Medicare Enhancements for Needed Drugs Act of 2004 Display Title Medicare Enhancements for Needed Drugs Act of 2004 Official Title as Introduced A bill to reduce the costs of prescription drugs for medicare beneficiaries, and for other purposes. Introduced in Senate IS Short Titles as Introduced Medicare Enhancements for Needed Drugs Act of 2004 Introduced in Senate 2004-02-06T05:00:00Z 2004-02-06 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.