Govt Lays Out Plans to Curb Medicare Drugs Costs

The Biden administration on Thursday unveiled its promised drug pricing initiative, saying it would test new ways to pay for prescription drugs for Medicare recipients, including tying payments to a medication's effectiveness.

The U.S. Department of Health and Human Services (HHS), which oversees the federal health insurance program for people age 65 and older and those who are disabled, said it would also test so-called bundled payment models and gather data from insurers to improve transparency.