Regulatory roundup

More healthcare-related regulatory news for plan sponsors, including links to detailed information.

House committees approve bill on prescription drug price negotiation

The House Education and Labor Committee approved the Lower Drug Costs Now Act (H.R.3), a bill that would require the federal government to directly negotiate prices for certain high-cost drugs that have little or no competition in the market.

Negotiated prices would apply to individuals enrolled in Medicare, as well as group or individual health insurance. Group health plans and health insurers could elect not to participate in the program for a drug, but would have to publicly disclose their elections.

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