Medicare Pilot Program to Increase Access to Lower-Cost Biosimilar Drugs.
This Act establishes a three-year nationwide demonstration project under Medicare Part B to boost the use of lower-cost biosimilar drugs. The program incentivizes healthcare providers with shared savings payments when they choose a biosimilar over a more expensive reference product. Crucially, this initiative is designed to save the healthcare system money without increasing out-of-pocket costs for Medicare beneficiaries.
Key points
A 3-year pilot program is launched under Medicare Part B to encourage the use of cost-effective biosimilar biological products.
Healthcare providers receive an extra payment based on the cost difference saved by using a biosimilar instead of the original, more expensive drug.
Medicare beneficiaries' co-payments or deductibles will not increase due to this incentive program.
The eligibility period for certain payment increases designed to promote biosimilar use is extended from 2027 to 2032.
Expired
Citizen Poll