Insights: Healthcare

Energy, Healthcare, Macro

President Trump is intensifying his push to have the reconciliation bill enacted by July 4th. It appears the Senate parliamentarian will continue her review of the bill through today, with Majority Leader Thune now planning to commence with consideration of the bill on the Senate floor tomorrow and concluding over the weekend, giving the House...

Medicaid, ACA, PBMs, and HSAs in Reconciliation

Senate Republicans are in intense negotiations over modifications to the Finance Committee (SFC) draft contribution to the reconciliation bill, covering Medicaid, ACA, and other provisions (e.g., HSAs, PBMs). The SFC draft, which is more aggressive than the House bill, continues to draw push back from Republicans in both the House and Senate.

Energy, Healthcare, Macro

Last night, the Senate Finance Committee (SFC) released its draft contribution to the reconciliation bill, covering taxes and Medicaid. Notably, the SFC draft is more aggressive than the House version of the bill in cutting Medicaid, takes a slightly more moderate approach to the House’s cuts to IRA clean energy credits, and extends the SALT cap...

NIH funding has seen some increased visibility as an issue in recent days, with the release of the White House’s formal FY26 budget proposal – which calls for cutting NIH’s funding by ~$18b (~40%) from FY25 levels – and NIH Direct Bhattacharya testifying before the Senate Appropriations Health Subcommittee regarding the President’s budget and...

Pharmacy Benefit Managers

In recent weeks, CVS Health, Cigna’s Express Scripts, and the Pharmaceutical Care Management Association (PCMA) – the trade association representing PBMs – have filed separate federal lawsuits seeking to block implementation of a first-of-its-kind Arkansas law (Act 624) that prohibits PBMs from owning or operating pharmacies in the state.

Medicare/Medicaid

As the Senate makes edits to the House-passed reconciliation bill, two key threads of activity are emerging. First, as discussed in our recent comments regarding the broader reconciliation landscape, there are clear indications that the primary areas of concern amongst Senate Republicans regarding the House’s Medicaid proposals revolve around...