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Portland, OR-- Today Congressman David Wu announced his plan to improve the Medicare prescription drug program at an event with representatives of Elders in Action and the Oregon Alliance for retired Americans.
“Today too many Americans have the unthinkable choice between paying the rent, buying groceries or paying for their prescription drugs. Who of us would want our loved ones placed in that terrible dilemma?” asked Congressman David Wu. “The Medicare prescription drug bill, which I voted for was an important first step in helping thousands of Americans reduce the cost of their prescription drugs.”
The Medicare prescription drug bill, which was signed into law in December 2003, provides a prescription drug benefit for the first time since Medicare’s creation in 1965. In particular, this law assists low-income Medicare recipients through the elimination of or reduction of premiums, deductibles and copays. For seniors who participate and have prescription drug costs up to $2250, approximately one-half of that cost is covered. The bill also helps those Medicare recipients whose prescription drug spending exceeds the catastrophic limit of $5,100 in total drug spending; Medicare will pay for all of those costs.
“There is more to be done. That is why today I am announcing my legislation to improve on this first effort.”
Congressman Wu’s legislation, the Medicare Prescription Drug Improvement Act will do three things: allow for the legal reimportation of safe, lower-cost prescription drugs; allow for the federal government to directly negotiate better drug prices; and close the gap or “doughnut hole” in prescription drug coverage between the initial coverage and the catastrophic limit.
“Today Americans often pay up to 60 percent more for the same brand name drugs as a person in Canada, France or Germany. That’s not right. Americans should not have to pay a disproportionate amount of the costs of research and development or for the advertising of a new drug.”
The Medicare Prescription Drug Improvement Act will also allow the federal government to directly negotiate with drug manufacturers and pharmacies in order to reduce the cost of prescription drugs for Medicare recipients. Currently the Secretary of Health and Human Services is barred from interfering with negotiations between drug manufacturers and prescription drug sponsors.
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