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As the Biden administration and the new Congress examine policies to reduce prescription drug costs, one place to start is officially revoking the so-called rebate rule, which was hastily — and likely illegally — finalized in the remaining days of the Trump administration. 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 nearly $200 billion in Part D program costs for taxpayers. (JC Scott, 2/18)

Are you among the 98.5 percent of Americans taking prescription medications annually who fill them in the U.S. — too frightened by safety concerns or of doing something illegal to fill them abroad? The same brand name prescription drugs cost on average 3.5 times as much in the U.S. as in comparable high-income countries. Or are you among the 30 percent of Americans who cannot even afford to fill your prescriptions? To lower drug prices, more than three-quarters of Democratic, Republican and Independent voters favor policies that promote imports and that harness Medicare’s market power. We propose new legislation that distills the best ideas in Democratic-sponsored bills with the best ideas in two of President Trump’s recent executive orders. This legislation can deliver a one-two punch to high prescription drug prices.  (Stephen Salant and Gabriel Levitt, 2/17)

I’m always very appreciative that MarketWatch readers take the time to write. I focus on retirement issues, and one of the more common emails I get concerns soaring drug prices. The average medication went up 4.2% in January, according to an analysis by GoodRx, a medical and health care services provider — a rate three times faster than the 1.3% increase in Social Security. Some retirees are getting hit even worse. Here’s an excerpt from one email, from “RAB,” who worries that she and her husband could lose their home because they’ve fallen behind on their taxes. One reason for this: their medical bills are through the roof. (Paul Brandus, 2/20)

Americans are grateful for the COVID-19 vaccines — quickly produced, safe and effective, and currently free to receive — and await their turn to receive their shots. Yet, far too many of us cannot afford the drugs vital to our health. Drug corporations continue to make hefty profits from setting drug prices that far exceed prices for the same drugs in other countries and from raising prices on older drugs just because they can. (Lisa Bero, Mark Levine, Dean Baker and Aaron Kesselheim, 2/21)