May was Older Americans Month. It came and went without our elected leaders taking action on one of the biggest issues facing seniors -- high drug prices.
Millions of seniors struggle to afford medications. Drug prices in the United States increase multiple times per year, faster than any other medical necessity. Negotiating lower drug prices is prohibited in Medicare Part D, with no limit on out-of-pocket costs. That means seniors -- many on fixed incomes -- must go without medicine, ration medicine or forego necessities.
It doesn’t have to be this way. President Biden and Congress can take action now to lower drug prices by passing H.R.3, the “Lower Drug Costs Now Act”. This would allow the government to negotiate lower drug prices, cap out-of-pocket prescription costs, and ensure that drug corporations can’t charge people in the U.S. multiples of their international prices.
The State Legislature and Governor Evers could create a Prescription Drug Affordability Board that would set upper price limits on expensive drugs.
Seniors have had enough lip service and broken promises from politicians who say they want to lower prices but, ultimately aren’t willing to remove Pharma’s monopoly pricing power. Lawmakers in Wisconsin and Congress have a choice: Will they finally follow through on lowering prices for seniors, or will they continue to protect Pharma’s profits?
Town of Lisbon