Des Moines—AARP Iowa State Director, Brad Anderson released the following statement today, applauding Reps. Finkenauer, Loebsack, and Axne of the U.S. House of Representatives for voting to pass H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act.
“AARP Iowa commends Reps. Finkenauer, Loebsack, and Axne for helping pass the Elijah E. Cummings Lower Drug Costs Now Act in the U.S. House of Representatives. This bipartisan legislation is a bold step toward lowering prescription drug prices and high out-of-pocket costs for millions of older Americans, including our 365,000 Iowa members.
“H.R. 3 would allow Medicare to negotiate lower drug prices, set an annual out-of-pocket cap for seniors in Medicare Part D, and crack down on relentless drug price increases by pharmaceutical companies. In addition, the $500 billion that the Congressional Budget Office estimates taxpayers will save over the next ten years would be reinvested back into the Medicare program to create important new dental, hearing, and vision benefits. These benefits would improve older adults’ health and well-being and reduce future health care costs.
“High drug prices disproportionately hurt older Americans, particularly Medicare Part D enrollees, who take between four and five prescription medications each month and have an average annual income of just over $26,000 a year. The average annual price of a specialty drug used on a chronic basis is now $79,000. Medications cannot work if they are unaffordable.
“AARP Iowa also thanks Senator Grassley for advancing his co-sponsored Prescription Drug Pricing Reduction Act. We urge the Senate to follow his lead and pass this legislation. The President and Congress will need to work together to get this done. Americans are desperate for relief from high prescription drug prices.”
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AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.
This story is provided by AARP Iowa. Visit the AARP Iowa page for more news, events, and programs affecting retirement, health care, and more.
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