The Medicare Part D prescription drug benefit provides our nation’s seniors with affordable drug coverage, which is more important now than ever.

The rebate rule clumsily attempts to eliminate the primary tool used by pharmacy benefit managers, or PBMs, to negotiate increased access to affordable prescription drugs with drug manufacturers. The rule would not reduce drug costs: Centers for Medicare and Medicaid Services actuaries and the Congressional Budget Office have said it would significantly increase Medicare Part D premiums and add $170 billion in Part D program costs for taxpayers.

Medicare beneficiaries appreciate the Biden Administration’s decision to delay the prescription drug rebate rule. Congress and the Administration should now permanently repeal the rebate rule and advance real solutions that protect seniors while bringing down the costs of prescription drugs.