(WASHINGTON, D.C.) - Today, U.S. Senator Patty Murray (D-WA), Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, released the following statement on the House bill’s inclusion of provisions to lower drug costs and allow Medicare to negotiate lower prescription drug prices.
“I’ve been pressing on this issue for years. This deal represents a long overdue first step on Medicare negotiation that will help patients across the country save money on their prescriptions. It will give Medicare new power to negotiate lower drug prices and new tools to fight back when drug companies try to jack prices up, it will bring down the cost of insulin which so many are struggling with to $35 a dose, and it will create a new $2,000 a year cap on seniors’ and people with disabilities’ out-of-pocket prescription drug costs.
“There’s certainly more work ahead to build on this, but the provision in the House bill represents a meaningful step to bring down drug costs-and one an overwhelming majority of Americans want us to take."
The provisions in the House’s Build Back Better bill would
- Give Medicare new power to negotiate lower prices for drugs
- Force drug companies to pay a rebate to Medicare if they increase their prices faster than inflation
- Cap out of pocket prescription drug costs for seniors and people with disabilities at $2,000 per year
- Cap insulin costs at $35 per dose.
