STATEMENT: CAP’s Andrea Ducas on the Biden Administration’s Continued Effort to Lower Prescription Drug Costs for Seniors

Washington, D.C. — Today, President Joe Biden announced that 15 additional prescription drugs will be subject to direct price negotiation under the Medicare program. This marks yet another milestone of the historic Inflation Reduction Act (IRA), which is lowering out of pocket costs for older adults and people with disabilities around the country. In response, the Center for American Progress’ Vice President for Health Policy Andrea Ducas shared the following statement:

Today’s announcement represents major progress for the nearly 50 million people who rely on Medicare—far too many of whom struggle to afford their prescription drugs because prices are way too high. Today is especially meaningful for enrollees with Type 2 diabetes, cancer, and other conditions that the 15 selected drugs treat. The IRA changed the game by allowing the government to finally go toe-to-toe with Big Pharma to bring these prices down, as well as to deliver immediate financial relief to enrollees by capping out of pocket costs for drugs.

Related Resource:

• 5 Facts To Know About Medicare Drug Price Negotiation
• Medicare Drug Price Negotiation Will Help Millions of Seniors and Improve Health Equity
• Medicare Drug Price Negotiation Could Benefit Millions of Seniors

For more information or to speak with an expert, please contact Rafael Medina at [email protected].