Bringing Down the Cost of Prescription Drugs
by Goytree Hakim
As an AARP Advocate for Seniors, I want to let you know we have been lobbying to bring down the cost of prescription drugs.
Here's the latest news on this activity:
On July 25, the U.S. Senate Finance Committee passed the Prescription Drug Pricing Act of 2019.
The bill would:
- Change the financing structure of Medicare Part D to permanently eliminate the donut hole;
- Require drugmakers and insurance plans to share more of the cost for patients with high drug costs;
- Cap out-of-pocket prescription drug costs for Medicare enrollees at $3,100 a year;
- Require drug manufacturers to pay a rebate to Medicare if they raise prices more than the rate of inflation; and
- Save Medicare $100 billion over a decade.
The Senate Finance Committee is the last stop to the Senate floor. The White House supports the bill and the U.S. House of Representatives is working on a prescription drug bill.
Lowering drug costs is a very important issue for older adults, so be sure to call or email your US Representatives and Senators to let them them know you support lowering the cost of drugs.
Goytree Hakim is a long-time Maple Grove resident and a founder of Age-Friendly Maple Grove