Summary
The Medicare Extension of Drugs to Seniors (MEDS) Act of 2001 proposed creating a voluntary prescription drug benefit under a new "Part D" of the Medicare program. If enacted, it would have provided coverage for prescription medicines and pharmacy services to seniors and individuals with disabilities through a system funded by monthly premiums and federal appropriations.
The bill aimed to lower out-of-pocket costs for citizens by establishing price reduction programs and creating incentives for employers to maintain drug coverage for their retirees. Additionally, it sought to lower costs by easing restrictions on the importation of certain prescription drugs and requiring companies that use federally funded research to enter into "reasonable pricing" agreements with the government.
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