“The House took a commendable step toward reducing the cost of a life-saving drug for seniors and other everyday Americans by passing a bill to cap the price of insulin. This legislation has the potential to save diabetics who are risking their lives by rationing insulin — and bring financial relief to everyone taking insulin but struggling to get by every month. But while this bill will undoubtedly help consumers, it does not address the actual price of insulin or other outrageously overpriced medications. Congress still must pass comprehensive drug pricing reform as soon as possible. That reform should empower Medicare to negotiate drug prices directly with Big Pharma, just like the VA does. Only then will consumers not only get much-needed price relief, but the Medicare program will save billions of dollars that could be used to expand benefits for seniors. While we applaud the House bill, we urge the Senate to include a mechanism to actually lower the cost of insulin. As always, we welcome any meaningful steps toward the broader goal of prescription drug pricing reform.” – Max Richtman, President and CEO, National Committee to Preserve Social Security and Medicare
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