60 Plus Association Statement on Prescription Drug Pricing Reforms in Reconciliation Package

Washington, DC (July 7, 2022) – 60 Plus Association issued the following statement in response to lawmakers’ introduction of harmful prescription drug pricing reforms in its reconciliation package:
“The recently proposed drug pricing reforms take yet another shot at the scam some lawmakers are calling Medicare “negotiation.” But these proposed changes would only jeopardize seniors’ healthcare coverage through Medicare at a time when they cannot bear the burden of increased cost or disrupted access. It’s been repeatedly said that price control policies would only work if Medicare covered fewer treatments and medications. If you’re a senior, timeliness and flexibility are critical to managing health, and therefore, it’s unacceptable that the government would want to limit options to save a buck and pay for their own mismanagement.

This legislation also repeals the rebate rule, which would have ensured Pharmacy Benefit Managers (PBMs) could no longer pocket the drug discounts intended for patients. Missing key provisions that would lower drug costs without limiting treatment options, this reconciliation package fails to deliver on lawmakers’ promise to seniors in providing access to affordable and high-quality healthcare through Medicare.”