U.S. SENATE — The Association of Mature American Citizens (AMAC) this week endorsed U.S. Senator Martha McSally’s (R- AZ) legislation to significantly lower patients’ out-of-pocket expenses for prescription drugs.
AMAC is made up more than 2.1 million members, including nearly 64,000 members who live in Arizona. AMAC President Bob Carlstrom penned a letter to McSally expressing the group’s support for her bill.
“Our members frequently tell us of the financial burden they experience when paying for their prescription drugs,” Carlstrom said. “We are grateful to you, Senator McSally, and your dedicated staff for recognizing the need to address the high cost of drugs for those living on a fixed income.”
“The bill empowers seniors to take more control over their prescription costs by requiring Medicare Part D plans to include real-time benefit information so beneficiaries know what’s covered on their formulary and how much they would have to pay out-of-pocket.”
“We encourage you to continue your advocacy on behalf of seniors and are pleased to offer our organization’s full support for the Lowering Prescription Drug Prices for America’s Seniors and Families Act of 2020.”
Click HERE to read full letter.
Sen. McSally’s bill, the Lowering Prescription Drug Prices for America’s Seniors and Families Act of 2020, will lower the cost of prescription drugs for all Americans through four key provisions:
- Allow Medicare to directly negotiate prices of drugs that are past their original patent expiration but still maintain a monopoly for that drug.
- Permit the safe re-importation of prescription drugs from Canada that meet FDA safety standards.
- Curb the ability of drug companies to abuse the patent system to delay competition and prevent cheaper alternatives from entering the market.
- Cap the out-of-pocket costs for prescription drugs for seniors on Medicare at $3,100 each year.
This legislation also equips providers with real-time benefit tools so seniors on Medicare know what is covered and how much they would have to pay.