The price of prescription medication is far too high, Senator Kirsten Gillibrand said Monday.
On May 2, Senator Gillibrand argued that the quality of life of New York seniors is being severely impacted by the rising price of prescription medication, forcing some vulnerable members of our society to choose between food and their pharmaceutical health.
“As rising inflation has recently increased the cost of living for so many Americans. The already skyrocketing cost of prescription drugs has become utterly untenable. Today when you go to the pharmacy you can be charged two to three times more, as other people in other countries are paying for the exact same medicine,” Senator Gillibrand said.
According to Gillibrand, 30% of adults say they have not taken their medicine as prescribed due to the eye-watering coats. It is with this in mind that Gillibrand is releasing a five-point plan to combat drug unaffordability:
Reimagine financial assistance for Medicare
Review brand-name price gouging
Empower Medicare to negotiate drug prices
Import lower-cost drugs from Canada, and
Expand subsidies to seniors living in U.S. territories.
As a part of this plan, the senator wishes for an annual review process that would look for excessive pricing of brand-named drugs while also allowing for Medicare to negotiate prescription drug prices. In addition, Gillibrand said she wants to see the importation of lower cost drugs from Canada to help ease the financial burden and to “reimagine” financial assistance for Medicare.
“It means streamlining programs, eliminating asset tests and expanding the extra health program. These are common sense reforms that will help combat inflation and help decrease the cost of living,” Gillibrand said.
This story first appeared on amNY.com.