Rep. Huffman: Lower Drug Costs Now Act Stalls in Senate
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- More than 400 Drugs Have Already Increased in Price This Year According to
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Multiple news outlets are reporting that just days into the New Year, consumers are already facing significant increases in the cost of hundreds of prescription drugs. That's why last year Representative
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* REUTERS: "More drugmakers hike
* CNBC: "Bristol-Myers, Gilead, and Biogen hike US drug prices as the new year begins"
"No one in America should lose their livelihood, or life, because of the price of prescription medication," said
THE LOWER DRUG COSTS NOW ACT WOULD LOWER DRUGS COSTS AND EXPAND BENEFITS:
The Lower Drug Costs Now Act would:
* Give Medicare the power to negotiate directly with the drug companies to bring down prices and create powerful new tools to force drug companies to the table to agree to real price reductions.
* Make the lower drug prices negotiated by Medicare available to Americans with private insurance too, not just those on Medicare.
* Stop drug companies ripping off Americans while charging other countries less for the same drugs by limiting the maximum price for any negotiated drug.
* Create a new
* Save taxpayers approximately
* Expanding Medicare benefits to cover things like dental, vision and hearing,
* Combatting the addiction crisis, and
* Researching new cures and treatments.
THE LOWER DRUG COSTS NOW ACT WOULD SAVE MONEY:
Independent experts found the Lower Drug Costs Now Act would:
* Save American households
* Save private businesses more than
* Save taxpayers approximately
DISTRICT BY THE NUMBERS:
According to a report by the
123,016 residents in CA-02 rely on Medicare Part D and 498,057 residents rely on private insurance, for their prescription drug coverage. The Lower Drug Costs Now Act would significantly lower the costs of prescription drugs for both Medicare and private insurance beneficiaries. Here are some examples of how CA-02 patients would benefit:
* Diabetes - 3,088,741
* Asthma - For the 2,398,304
* HIV/AIDS - 4,495
* Multiple Sclerosis (MS) - In the
* Breast Cancer - In 2019, an estimated 27,000
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