U.S. Senator Bob Menendez participated in a Senate Finance Committee open Executive Session to consider the Better Mental Health Care, Lower-Cost Drugs, and Extenders Act. The bill aims to decrease the cost of prescription drugs for senior adults on Medicare, and Sen. Menendez collaborated with Sen. James Lankford to propose an amendment addressing the Pharmacy Benefit Manager (PBM) practice of placing lower cost drugs on the same price “tier” or a less preferred “tier” than their name-brand counterpart. The senator emphasized the need for seniors to benefit from lower-cost drugs rather than being forced to pay for higher-priced drugs due to pricing tactics used by the drug pricing administration. Both senators will work with Senate Finance Chairman Ron Wyden and Ranking Member Mike Crapo to ensure that the bill is ultimately added to the final PBM package.
Sen. Menendez also discussed his efforts to reduce the national physician shortage by increasing Medicare-supported graduate medical education (GME) positions. He highlighted the importance of extending funding levels for Family-to-Family Health Information Centers, which provide critical services for families of children with disabilities or special health care needs. Additionally, the senator has advocated for creating a more affordable health care system for New Jerseyans and Americans across the country, and he has been involved in introducing legislation to reform PBMs and bring down the cost of prescription drugs for Medicare Part D beneficiaries.
Overall, the article emphasizes Sen. Menendez’s commitment to addressing the high cost of prescription drugs for seniors on Medicare and his efforts to improve the healthcare system by introducing legislative measures that would ultimately benefit patients. His collaboration with other senators and focus on initiatives such as reducing the physician shortage and addressing the impact of PBMs on the prescription drug supply chain reflect his dedication to making healthcare more accessible and affordable for Americans.
