AARP Colorado Statement on Strong Bipartisan Senate Finance Committee Vote for the Prescription Drug Pricing Reduction Act of 2019
AARP Colorado State Director Bob Murphy issued the following statement July 26, 2019, applauding Sen. Michael Bennet for voting in favor of the Senate Finance Committee’s Prescription Drug Pricing Reduction Act of 2019:
“AARP Colorado thanks Senator Michael Bennet for voting for the Prescription Drug Pricing Reduction Act yesterday in committee. We commend the Senate Finance Committee for its strong bipartisan work to help seniors and all Americans, who pay the highest drug prices in the world.
“The time is now for legislation to rein in drug prices. Today’s vote is a crucial first step leading up to full Senate action. AARP Colorado is deeply committed to winning this fight on behalf of our members and all Americans. We stand with senators who are committed to lowering drug prices and are working to advance this important bill.
“High drug prices disproportionately hurt older Americans, particularly Medicare Part D enrollees who take an average of 4.5 prescription medications each month. Most Medicare beneficiaries live on fixed incomes, with an average annual income of just over $26,000. The average annual price for a single specialty drug used on a chronic basis is now an astounding $79,000. Medications are simply not affordable when their prices exceed a person’s annual income. Importantly the bill includes an out-of-pocket cap on prescription drugs for seniors in Medicare Part D and cracks down on drugmakers that raise prices higher than the rate of inflation. AARP also supported an amendment offered in committee to allow Medicare to negotiate for lower drug prices, but that amendment was not adopted.
“On behalf of our 680,000 members, AARP Colorado thanks Sen. Bennet and the 18 other senators on the Senate Finance Committee who voted for the Prescription Drug Pricing Reduction Act of 2019.”