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Dear John,
Big Pharma continues to behave badly. According to a recent article in Kaiser Health News, some Medicare Part D prescription drug beneficiaries are experiencing a big jump in their medications after they sign up for coverage. In one case, a California woman who used Medicare’s plan finder to select coverage last December found that the price of one of her medications had jumped from $70 to $275 by January.
It’s the classic bait and switch. Already this year, drug companies have raised the prices on more than 450 prescription drugs! But according to Medicare’s website:
“Your plan may raise the copayment or coinsurance you pay for a particular drug when the manufacturer raises their price, or when a plan starts to offer a generic form of a drug.”
Fixing this problem would require a change in the 2003 Medicare Modernization Act which established Part D drug coverage but forbade Medicare from negotiating the price of prescription drugs.
Since then, the National Committee has been fighting to pass legislation in Congress that would empower Medicare to negotiate drug prices. Unfortunately, Senate Minority Leader Mitch McConnell and so-called “fiscal hawks” in Congress remain committed to shielding Big Pharma from drug pricing reforms, while many of their constituents are skipping life-saving medications they can’t afford.
That’s why the National Committee continues to remind lawmakers that lowering drug costs remains a top priority of voters like you. And with your support, we’ll continue to put pressure on the Senate to pass meaningful drug pricing reforms.
Sincerely,
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