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Dear John,
We couldn’t have won this historic battle for prescription drug pricing reform without you!
Today, the House passed the Senate-approved “Inflation Reduction Act,” and it now goes to the President’s desk for his signature.
For the first time ever, Medicare will be allowed to negotiate the price of certain prescription drugs — a measure the powerful prescription drug industry lobbied hard to defeat.
The Inflation Reduction Act also:
--Caps Medicare Part D patients’ annual out-of-pocket payments at $2,000;
--Caps the cost of insulin for Part D patients at $35/month; and
--Penalizes drugmakers for raising the prices above the rate of inflation.
Though the bill does not contain everything that we in the advocacy community hoped for, these provisions represent meaningful reform that can change lives for the better by taming drug prices.
As you may know, the average price of brand name prescription drugs in Medicare Part D more than doubled between 2009 and 2018. During the subsequent two years, price hikes outstripped inflation for half of all drugs covered by Medicare. Because seniors’ incomes have not kept up with these soaring prices, many older Americans have been forced to ration their pills or skip them altogether
Now we’ve made history, despite the drug industry’s fierce efforts to thwart drug pricing reform. This is a huge win that will put money back in the pockets of American seniors.
We couldn’t have won this historic victory without your petitions, letters, emails, phone calls and of course your financial support which enabled us to keep fighting on your behalf day in and day out on Capitol Hill. Please consider supporting the National Committee’s ongoing fight to protect and strengthen your earned benefits by making a gift today!
Sincerely,
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