From Social Security Works (http://www.socialsecurityworks.org/):
The House of Representatives is poised to advance legislation that would save taxpayers hundreds of billions of dollars by lowering the price of prescription drugs. This bill, the Lower Drug Costs Now Act of 2019 (HR 3), is a long-overdue step in the right direction. Not only will this bill save Americans money, but it will save Medicare $345 BILLION. That’s real money.
Social Security Works has been fighting behind the scenes to make this bill as strong as possible, and we’re going to keep fighting for it all the way up until the vote.
Add your name at https://actionnetwork.org/petitions/sign-now-tell-congress-lower-drug-prices-now! Tell Congress to strengthen and pass this critical legislation to reduce prescription drug prices in the United States and save Medicare billions of dollars.
Right now, hundreds of billions of dollars from Medicare is going directly into the pockets of greedy pharmaceutical corporations. These outrageous payments increase Medicare premiums and eat into our Social Security benefits.
H.R. 3 takes a major step forward by requiring the Secretary of Health and Human Services (HHS) to negotiate prices for certain drugs—a stark change from current law which prohibits negotiating for drug prices.
Health care should not be for sale. And the health of our people must not be held hostage to the profit-hungry pharmaceutical industry.
After all, what is the point of life-saving medicine, if no one can afford it?
The legislation would also take financial pressure off working families across the country, families that are currently being ripped off by Big Pharma. The Centers for Medicare & Medicaid Services determined that households would save $158 billion over 10 years thanks to lower premiums and reduced out-of-pocket spending.1
H.R. 3, the Lower Drug Costs Now Act of 2019, will:
- Require the Secretary of Health and Human Services to use Medicare’s buying power to negotiate prices of certain drugs.
- Prohibit prices that exceed 120 percent of the average price in certain other countries, and limit prices of drugs for which international prices are not available.
- If manufacturers refuse to enter into negotiations or agree to a fair price by specified dates or if they did not meet other conditions, they would be subject to an excise tax of up to 95 percent of the sales of those drugs.
Families across the U.S. continue to get hammered by the outrageous bills on their life-saving drugs. It is time we lower prescription drug prices. Our policy should work for us ALL of us, not just for the CEOs and the shareholders of Big Pharma.
Let’s stand together, make H.R. 3 even stronger—and get it passed into law.
Leave a Reply