AARP National Volunteer President Dr. Catherine Alicia Georges Testifies on Capitol Hill About High Prescription Drug Prices

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WASHINGTON, DC—Today AARP National Volunteer President Dr. Catherine Alicia Georges, EdD, RN, testified on Capitol Hill at the U.S. House Committee on Oversight and Reform about the impact of high prescription drug prices on older adults.

Below are some excerpts of her prepared testimony:

“Prescription drug prices are a high priority for AARP and its members. Older Americans struggle to afford needed and life-saving medications. Most Medicare beneficiaries live on modest incomes, with an annual median of just over $26,000. One-quarter have incomes of just over $15,000. One-quarter have less than $15,000 in savings. This is not a population that has the resources to absorb rapidly escalating prescription drug prices, and many are facing the very real possibility of being unable to afford the medications they need.

“AARP has been tracking the prices of widely-used prescription drugs since 2004. Our most recent Prescription Drug Price Watch Report focused on brand-name drugs and found that their retail prices increased by an average of 8.4 percent in 2017 – four times the rate of inflation."

Read full release here.