Lowering Prescription Drug Costs
Congresswoman Trahan believes that healthcare is a human right, and it starts with the very basic idea of being able to afford your medication. There are ways to increase affordability: remove harmful obstacles that prevent production of generic drugs, and allow the federal government to use its market power to negotiate drug prices with pharmaceutical companies.
Lower Drug Costs Now Act (HR3)
We cannot wait any longer to lower prescription drug costs. The price of many life-saving medications, like insulin, have skyrocketed for years while the American people subsidize prescription drugs for the rest of the world – paying three, four, or ten times what people in other countries pay for the exact same drugs. Congresswoman Lori Trahan proudly voted in favor of HR3, the Elijah Cummings Lower Drug Costs Now Act. American seniors and families should not have to pay more for their medicines than what the drug companies charge people in other advanced industrial countries. That’s why this Congress is making good on our promise to drive down the costs of prescription drugs. There is no such thing as a lifesaving drug if Americans cannot afford it.
Under the bill’s “Fair Price Negotiation Program,” the federal government – through the Secretary of Health and Human Services – will have the authority and tools to negotiate lower drug costs with pharmaceutical manufacturers. Notably, the lower drug prices would be available to Americans on Medicare or with private insurance. Congresswoman Trahan is particularly proud that HR3 included her amendment to require the Government Accountability Office (GAO) to investigate and report to Congress about the Administration’s implementation of the Fair Price Negotiation Program. Moreover, the bill creates a new, $2,000 out-of-pocket limit on prescription drug costs for Medicare beneficiaries.
Additionally, the bill adds comprehensive dental, vision, and hearing benefits to Medicare. Furthermore, it invests $10 billion in biomedical research at the National Institutes of Health; $10 billion to combat the opioid crisis; and $10 billion for community health centers.
Strengthening Health Care and Lower Prescription Drug Costs Act
To that end, Congresswoman Trahan is proud to have voted with her colleagues in the House to pass the Strengthening Health Care and Lower Prescription Drug Costs Act. This bill will ensure that generic drugs get to the market faster than they have in the past by permitting the FDA to approve more generic drugssimultaneously. The legislation also bans brand-name drug manufacturers from making agreements to delay generic products from entering the market and finally it, makes it easier for generic manufacturers to request that the FDA to give authorization to obtain materials from a brand-name company.