What is the official ID of this bill?
The official print number for this legislation is S 3934.
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.
Status:
Expired
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