SecBot SecBot

Lowering Drug Costs for American Families Act

H.R. 4895 Rep. FRANK PALLONE (D-NJ-6) In committee
Bill text PDF
  1. Introduced Jul 26
  2. Committee Jul 26
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Jul 26, 2023Next: House vote
680d ago Dec 17, 2024: Referred to the Subcommittee on Health.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
4companies, 4 filings
Subscribe to see spend
Member trades
9trades in the last 90 days
Subscribe to see who
Who backs the bill and who pushes back Subscribe

Companies lobbying on this bill

4 companies
Companies by sector
Biotech & Pharma 3Financials 1
Search all 4 companies, their asks and price moves Subscribe

Summary

Lowering Drug Costs for American Families Act

Full summary4 paragraphs

This bill expands the Medicare Drug Price Negotiation Program to include additional drugs and drugs that are covered under private insurance. It also extends certain rebate requirements for covered drugs under Medicare to drugs that are covered under private insurance.

Current law requires the Centers for Medicare & Medicaid Services (CMS) to negotiate maximum prices for brand-name drugs that do not have other generic equivalents and that account for the greatest Medicare spending; the CMS must eventually negotiate the prices of 20 drugs that are covered under Medicare in 2029 and each year thereafter.

The bill requires the CMS to negotiate the prices of 50 drugs beginning in 2029. It also applies the negotiated maximum prices under the program to drugs that are covered under private health insurance, unless the insurer opts out. The CMS, Department of Labor, and Department of Treasury must publish a list of insurers that choose to opt out; insurers must also publicly disclose their decision to opt out.

Current law also requires drug manufacturers to issue rebates to the CMS for brand-name drugs without generic equivalents under Medicare that cost $100 or more per year per individual and for which prices increase faster than inflation. The bill extends these requirements to drugs that are covered under private insurance.

Library of Congress summary, Jul 26, 2023

Summary versions
  • Introduced in HouseJul 26, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.