The September 13, 2020 Executive Order on Lowering Drug Prices by Putting America First declared, “It is the policy of the United States that the Medicare program should not pay more for costly Part B or Part D prescription drugs or biological products than the most-favored-nation price.” The Most Favored Nation (MFN) Model issued by the Centers for Medicare & Medicaid Services (CMS) on November 20, 2020 implements such an approach for Medicare Part B. This Issue Brief compares what Medicare pays for prescription drugs in Part B with prices in the other industrialized countries that, like the U.S., are members of the Organisation for Economic Co-operation and Development (OECD).
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