AARP Colorado Advocacy Focuses on Rx Prices

In 2021, the Colorado Legislature passed SB21-175, establishing the Colorado Prescription Drug Affordability Board (PDAB.)

AARP Colorado strongly supported and testified on behalf of the bill. This Board, “has the authority to review prescription drug costs and evaluate their impact on Coloradans. The Board may then recommend ways to address those costs and may set an upper payment limit for certain drugs. The Board has appointed a multi-stakeholder Advisory Council to provide input to the Board to ensure its work is informed by a variety of stakeholders.” [1]

A survey by AARP in 2016 found growing worry Among 50+ over Drug Prices. The survey revealed that:

• of nearly 2,000 adults age 50-plus, a vast majority, 81%, think drug prices are too high, and nearly nine in 10 want politicians to do something about it.
• Three out of four adults age 50-plus take at least one prescription medication on a regular basis.
• More than eight in 10 (86%) of those age 65-plus regularly take prescription drugs, and 53% take four or more regular medications. [2]

In addition, International Prescription Drug Price Comparisons show the United States spends more on prescription drugs on a per capita basis than the other 32 countries in the Organization for Economic Co-operation and Development combined, and U.S. prices for drugs in 2018 were 256% of those in 32 comparison countries. [3]

AARP Colorado wants you to know Older Coloradans are important stakeholders and may have an opportunity to give “voice” to concerns about affordability and accessibility of needed prescription drugs to the PDAB. Our goal is for the PDAB to be aware of and accountable to directly impacted Coloradans who have the highest barriers to accessing their medications.

To determine whether to conduct an affordability review, the Board must identify drugs meeting conditions as outlined by law. For more information on the process for determining drugs eligible for affordability review, please click here:  affordability review overview.

For more information, please contact Karen Moldovan, AARP advocacy director, kmoldovan@aarp.org. Please note: a finite number of drugs will be reviewed by the Board, based on strict criteria the AARP does not have purview to approve.

Notes:
[1] Colorado Prescription Drug Affordability Board Overview, Colorado Department of Insurance, https://doi.colorado.gov/insurance-products/health-insurance/prescription-drug-affordability-review-board

[2] AARP Health, Drugs & Supplements: Survey Shows Growing Worry Among 50+ Over Drug Prices by Candy Sagon, April 19, 2016. https://www.aarp.org/health/drugs-supplements/info-2016/prescription-cost-worry-older-adults.html

[3] 2 Mulcahy AW, et al. International Prescription Drug Price Comparisons. Current Empirical Estimates and Comparisons with Previous Studies. Santa Monica, CA: RAND Corporation, 2021.
https://www.rand.org/pubs/research_reports/RR2956.html

_Leslie Kalechman is an AARP volunteer advocate and past advocacy chair