Drug Prices Set To Be Included In Television Ads
Drug prices are set to be included in television ads as early as this summer after the Trump administration finalized the proposal Tuesday.
“Requiring the inclusion of drugs’ list prices in TV ads is the single most significant step any administration has taken toward a simple commitment: American patients deserve to know the prices of the healthcare they receive,” said Health and Human Services Secretary Alex Azar in a statement.
Health and Human Services Secretary Alex Azar drafted a proposal for the rule designed to lower drug prices in October. It applies to all drugs that cost more than $35 for a month supply.
The finalized rule is virtually the same as it was in October, reported STAT News. Drug companies did not like the proposal, saying it was in violation of their First Amendment rights.
But it is going into effect in roughly two months, even though drug companies tried to placate HHS by including a weblink in their television ads directing consumers to detailed pricing information.
Skeptics of the proposed Trump administration rule point out that “list price” can be a very confusing term for consumers. Companies have leeway in how they report list price depending on a particular drug’s dosage and formulation. Since most consumers have insurance, their plan and provider could mean they pay a very different price than the one listed.
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