Today, U.S. Representatives Angie Craig (MN-02) Gwen Moore, (WI-04), Joe Morelle (NY-25) and Marc Veasey (TX-33) introduced legislation that would use savings from Medicare prescription drug negotiations to lower Medicare Part D costs for low-income seniors. The More Help for Seniors Act of 2021, would raise the income limits for eligibility under the Medicare Part D low-income subsidy program, which would help low-income seniors and individuals with disabilities afford life-saving medications by lowering copays and premiums for Medicare Part D.
“For too long, pharmaceutical companies have made a fortune on the backs of our nation’s seniors,” said Representative Craig. “As prescription drug costs continue to skyrocket for Minnesotans, I’m proud to introduce the More Help for Seniors Act of 2021 to lower out of pocket costs for our seniors to ensure that folks on fixed incomes can afford the medications they rely on.”
“Big pharma continues to rake in big profits while the cost of prescription drugs are out of control, exacting unacceptable hardship on too many Americans. That’s why I am pleased to join my colleagues in introducing the More Help for Seniors Act, which will expand the Medicare Part D low-income subsidy program to make essential medications more accessible and affordable for more seniors and people with disabilities,” said Representative Moore.
“Our nation is facing an alarming crisis as the cost of prescription medication continues to rise, placing a dangerous burden on older Americans and their families,” said Representative Morelle. “And as we continue to navigate this global health crisis, it’s more important than ever that we take action to make healthcare more affordable for everyday Americans. I’m proud to co-sponsor this critical legislation to ensure those who rely on Medicare have access to the life-saving medication they need, no matter what.”
“Older Americans in Texas’ 33rd district are being hurt every day by the skyrocketing price of prescription drugs,” said Representative Veasey. “This legislation will meet this challenge by ensuring that beneficiaries of the Medicare Part D program have access to the life-saving prescriptions they need. I am proud to join my colleagues to continue our promise to work for the people by making affordable health care a right for all Americans-especially during an unprecedented pandemic that disproportionately hurting already vulnerable communities.”
Seniors are living on modest incomes—the median income for Medicare beneficiaries is just over $26,000. Out-of-pocket costs can force seniors and individuals with disabilities to choose between food, heating, and needed medications. This legislation would expand access to programs that help lower these out-of-pocket costs for drugs.