HR 4299

This bill, the Protecting Patient Access to Cancer and Complex Therapies Act, aims to lower the cost of certain expensive medications for Medicare beneficiaries. It establishes a system where drug manufacturers must provide rebates to the government for selected drugs (specifically cancer and complex therapies) if the payment amount (based on a ‘maximum fair price’ negotiation) exceeds a calculated amount. The bill mandates that manufacturers report detailed information to the government about drug sales and rebates, and adjusts Medicare cost-sharing to reflect these rebates, ultimately reducing out-of-pocket expenses for patients.