During the recent campaign Trump said allowing HHS to negotiate prescription drug prices could save $300 billion. That’s quite an achievement from a program that spends about $100 billion a year.
The fact is that the CBO and the Office of Management and Budget have both said that negotiating drug prices would have negligible effect on costs because HHS has little leverage plus these prices are already negotiated by the pharmacy benefit managers running Part D of Medicare.
For HHS to significantly impact costs it would have to simply set prices and pay no more or eliminate certain high cost drugs from coverage (as they do in other single-payer systems in other countries.)
Both of these moves have consequences for Medicare beneficiaries and for the US population as a whole.
So, as you hear the claims coming at you about changing Part D of Medicare, better get all the facts and think about the consequences.