Seniors deserve access to affordable prescription drugs. But too often, they are stuck paying for Big Pharma’s out-of-control prices. That’s why Congress is contemplating a maximum out-of-pocket limit for Medicare Part D, the prescription drug coverage program for seniors and persons with disabilities.
Creating a Part D out-of-pocket limit would set a maximum on the amount that seniors would have to pay out-of-pocket for their prescription drugs every year. This would prevent certain seniors who are on expensive drugs from paying excessive amounts, potentially saving each person up to thousands of dollars a year.
Unfortunately, one proposal under consideration would increase premiums for everyone with Part D coverage by $6 billion and increase taxpayer costs by $7 billion.
Seniors and American families shouldn’t have to pay more while Big Pharma rakes in record profits, especially since these drug makers don’t have any accountability as they continue to increase the price of prescription drugs by 163%, 296%, and even 652%.
Fortunately, health care experts have a solution: Make Big Pharma have more skin in the game by finally taking responsibility for prescription drug prices so that seniors and American families avoid spending an extra $118 billion in premiums and taxes.
Americans deserve better services, better access to care, and better value – and an out-of-pocket limit helps deliver on that promise. It ensures access and affordability to prescription drugs for seniors and persons with disabilities who are on the most expensive drugs. However, it’s Big Pharma who should be playing their part to help pay for expensive prescription drugs – not seniors and American families.