Lowering Drug Prices for People of All Ages
The high price of prescription drugs is a main driver of healthcare costs in the United States, costing patients and taxpayers billions of dollars annually, forcing millions of Americans into medical debt and putting life-saving medicines out of reach for the people who need them most. For years, drug corporations have raised the price of prescriptions has risen faster than inflation to pad their profits, price-gouging patients on everything from insulin to cancer drugs thanks to government granted monopoly power to charge any amount they want on brand name drugs. In 2022, however, things started to change when President Biden and the 117th Congress passed historic reforms in the Inflation Reduction Act that will finally enable Medicare to negotiate for lower drug prices, stop drug corporations from raising prices faster than inflation, and, for the first time, cap out-of-pocket costs for seniors and people with disabilities. The new law is great news for Medicare enrollees, but now it’s time to do the same for everyone else. People of all ages need affordable medicines to take care of themselves and their families. It’s finally within our reach to lower drug prices for people with private insurance, individual coverage, and with no coverage at all by putting an end to prescription drug price-gouging once and for all.
Latest Resources on Lowering Drug Prices
NBC News: New prescription drug price hikes hit Black patients hard
Ottumwa Courier: Seeing progress thanks to Biden-Harris Administration
Ten Reasons to Celebrate the IRA’s Health Care Provisions on 2nd Anniversary
August 16th, 2024, marks the two-year anniversary of the Inflation Reduction Act (IRA), the historic law that took on Big Pharma to lower drug prices in Medicare after decades of drug corporation price-gouging. President Biden signed the new law in 2022 after...
Inflation Reduction Act Reaches Major Milestone on Second Birthday
The Law’s Future Depends on November Elections Washington, DC: Today, on the second anniversary of the passage of the Inflation Reduction Act of 2022–a law that made historic reforms in Medicare, investments in addressing climate change and improvements in the federal...
NC Newsline: Lower drug prices in Medicare deserve celebration
President’s SOTU Touts More Affordable Health Care, Restoration of Reproductive Freedom and Fairer Tax Code to Support Future Investment in America
In response to President Biden’s State of the Union address calling for permanent measures for making healthcare more affordable and higher taxes on the wealthy and corporations to support an economy that works for all, Health Care for America Now Education Fund...
VA Dogwood: The right medicine is life-changing, if you can afford it
The Daily Progress: Hooray for the IRA!
Reforming PBMs Puts Money In Patients’ Pockets
When it comes to lowering drug prices and making medicines more affordable, lawmakers have many opportunities for interventions that save patients money. We’re already seeing positive impacts from last year’s historic Inflation Reduction Act (IRA), which has capped...