WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) introduced a bipartisan bill with Senator John Cornyn (R-TX) to reduce prescription drug costs for seniors. The Reducing Drug Prices for Seniors Act would directly reduce out-of-pocket costs by requiring that prescription drug coinsurance payments for seniors on Medicare be determined based on the lower net price of the medication as opposed to the higher list price. Currently, coinsurance payments that seniors pay are based on a percentage of the drug companies’ list prices, which are more expensive than the prices that insurance companies pay after negotiations. This means that what seniors pay is calculated on a higher price than what the insurance company pays, resulting in higher drug costs for seniors.
Las Vegas Review-Journal: ‘Lifesaving medication’: Bill aims to cut prescription drug prices for seniors
By Jessica Hill
Key Points:
- Nevada’s Democratic Sen. Jacky Rosen and Sen. John Cornyn, R-Texas, introduced legislation on Wednesday that aims to reduce prescription drug costs for seniors.
- The Reducing Drug Prices for Seniors Act would require prescription drug coinsurance payments for seniors on Medicare to be determined based on the lower net price of the medication, rather than its higher list price, according to Rosen’s office.
- “No Nevadan should have to break the bank to pay for their lifesaving medication,” Rosen said in a statement. “That’s why I’m introducing bipartisan legislation to lower out-of-pocket costs for prescription drugs for Nevada seniors and reduce the amount of money they have to pay at the pharmacy counter.”
- The bill has received endorsements from both national and Nevada organizations, including Age Friendly Reno, Age and Dementia Friendly Winnemucca, Alliance for Aging Research and UnidosUS, according to Rosen’s office.
KTVN Reno: Rosen intros bipartisan bill to lower out-of-pocket prescription drug costs for seniors
Host: “Today, Nevada Senator Jacky Rosen said she’s introduced a bill to help lower prescription drug costs for seniors.”
Senator Rosen: “It says that if insurance companies negotiate for a lower drug price, then the senior on Medicare should be paying their out-of-pocket based on that lower drug price.”
KRNV Reno: Rosen, Cornyn intros bipartisan bill to lower out-of-pocket Rx drug costs for seniors
Host: “Reducing Drug Prices for Seniors, it’s a new bipartisan bill with the goal of lowering out-of-pocket costs for prescription drugs. The legislation would achieve this by updating how prices are calculated for [Medicare] co-insurance payments. With this bill, your payments would be calculated using the drug price after it’s been negotiated by your insurance company instead of the higher one before. Senator Jacky Rosen introduced the bill today alongside Senator John Cornyn of Texas.”
Telemundo Las Vegas: Rosen presenta medida bipartidista para reducir los precios de los medicamentos
Reportera: “Y hablando de asuntos económicos, con el objetivo de reducir los precios de los medicamentos, los senadores Jacky Rosen y John Cornyn presentaron una medida bipartidista que ayudará a las personas de la tercera edad.
Reportero: “Este proyecto de ley reduciría los gastos, exigiendo que los pagos del coseguro de los medicamentos recetados para los mayores con Medicare se determinen en función del precio neto más bajo del medicamento en lugar del precio de lista más alto.”
Reportera: “La senadora señala que los tratamientos de cáncer y otras enfermedades crónicas son muy caros, pero que gracias a esta nueva medida, el medicamento podría ser más accesible para las personas.”
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