U.S. Sen. Martha McSally (R-AZ) this week plans to unveil a bill to decrease prescription drug costs and lower patients’ out-of-pocket expenses.
“I’ve heard from too many Arizonans who have to leave their prescriptions at the counter or ration their medications below what their doctor prescribed because of skyrocketing drug costs,” Sen. McSally said on Feb. 21. “This is unacceptable. Americans should not be forced to choose between their medications and paying their rent.”
According to a bill summary provided by Sen. McSally’s office, the forthcoming proposal will include four key provisions to lower drug prices:
- 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 Food and Drug Administration safety standards;
- Curb the ability of drug companies to abuse the patent system to delay competition and prevent cheaper alternatives from entering the market; and
- Cap the out-of-pocket costs for prescription drugs for seniors on Medicare at $3,100 each year.
“Americans should also not be paying more for drugs than Canada, especially when those drugs were discovered or made in America,” said Sen. McSally. “My bill will address this problem by pulling back the curtain on pricing and negotiations, ending the sticker shock at the pharmacy counter, and capping out-of-pocket costs for seniors.”
Sen. McSally also noted that it’s critical for federal lawmakers to hold “big pharma companies accountable for exploiting loopholes that keep prices high for seniors, families and taxpayers.”
She urged members on both sides of the aisle to join her in ensuring “hard-working Americans and their families can access the treatments they need at an affordable cost.”