For prescription drugs on the market, you might expect any price increase to be around the rate of inflation. Sadly, what we’ve seen in practice is that Big Pharma has raised the average annual cost of brand name prescription drug treatment 58 percent between 2012 and 2017. That far outstrips price increases for other goods and services. And it outstrips the average annual income for Georgians, which increased only 10 percent over the same time period.
There is good news to report, though: the House of Representatives has advanced The Lower Drug Costs Now Act of 2019 (H.R. 3) out of key committees, and we hope the bill will be on the floor soon. The Lower Drug Costs Now Act offers real relief to older Americans. The bill would allow Medicare to use its buying power to negotiate lower drug prices, create an out-of-pocket cap for seniors in Medicare Part D, and crack down on excessive drug price increases. It’s time for action, and we need your help. The U.S. Senate, as well, is working on a solution. And the president has expressed support for action on drug prices.
Do you live in the Metro Atlanta Area and have you been personally impacted by the high cost of prescription drugs, the rising costs of insulin, or has the cost of hearing aids created a barrier to getting assessment and treatment for hearing loss? If so, we want to hear your story.
Please contact AARP Georgia Advocacy Manager, Melissa Austin at firstname.lastname@example.org to share your story, or for more information.
Click here to review AARP’s Release Agreement.
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