December 07,2023

Wyden and Crapo Report Legislative Text from Finance Committee Health Care Markup

Finance-Passed Policies Include Reforms to PBMs, Mental Health Care and Other Expiring Health Care Provisions

Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., and Ranking Member Mike Crapo, R-Idaho, today announced that the Committee has reported legislation that was marked up in the committee in November. The “Better Mental Health Care, Lower-Cost Drugs, and Extenders Act” addresses a number of important health care priorities in the committee’s jurisdiction.

“This legislative text represents the bipartisan health care priorities unanimously voted out of the Finance Committee, such as improving mental health care, taking on drug price middlemen, and preventing needless cuts to health services that Americans count on,” Wyden said. “I am optimistic that these policies, in addition to the committee’s prior bipartisan work on health care can reach the president’s desk this Congress.” 

“This bipartisan legislation will cut patient costs at the pharmacy counter, strengthen provider choice for seniors across the country and reverse warped incentives that currently favor higher-priced medications,” said Crapo. “It accomplishes all of this without increasing the federal deficit.  Taxpayers, consumers and community pharmacies deserve to see these bills passed by the full Congress as quickly as possible.”

The legislation expands mental health care and substance use disorder services under Medicaid and Medicare, reduces prescription drug costs for seniors at the pharmacy counter, extends essential Medicaid and Medicare provisions that will expire this year, and increases Medicare payments to support physicians and other providers.

Last month, the Finance Committee passed the Chairman’s proposal with a vote of 26-0.

The final reported legislative text can be found here. A section by section summary can be found here.