August 19, 2022
The Honorable Joseph Robinette Biden Jr.
The White House
Washington, DC 20500
Dear President Biden:
On behalf of the millions of members and supporters of the National Committee to Preserve Social Security and Medicare, I am writing to thank you for signing the Inflation Reduction Act into law and for your tireless efforts to ensure that the new law reduces prescription drug costs and extends Affordable Care Act (ACA) premium subsidies.
Prices for the most commonly prescribed drugs for seniors have increased ten times the rate of inflation since 2013. Medicare beneficiaries pay thousands of dollars a year in out-of-pocket drug costs they can’t afford. Some seniors have been cutting pills in half or outright skipping doses of lifesaving medications.
Lifting the prohibition on negotiating certain high-cost prescription drug prices and related provisions in the new law will finally enable Medicare to contain, and even, lower skyrocketing drug costs paid by millions of seniors, people with disabilities and taxpayers. And extending subsidies to make ACA health plan premiums affordable for individuals not yet eligible for Medicare will help millions of working and middle-class Americans keep essential health insurance. For these reasons, the National Committee thanks you for your persistent efforts that led to the enactment of this landmark law. We look forward to working with you and your administration to advance legislation that will make further improvements in health care coverage, affordability and access for all Americans.
President and CEO