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Question:
What is the Know the Lowest Price Act?
Answer:
According to the Centers for Medicare & Medicaid Services (CMS), the bill prevents a prescription drug plan under Medicare or Medicare Advantage from forbidding a pharmacy from informing an enrollee of “any difference between the price, copayment, or coinsurance of a drug under the plan and a lower price of the drug without health-insurance coverage.”
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Fee schedules, relative value units, conversion factors and/or related components are not assigned by the AMA, are not part of CPT, and the AMA is not recommending their use. The AMA does not directly or indirectly practice medicine or dispense medical services. The AMA assumes no liability for data contained or not contained herein.
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