AARP Maryland Thanks Senators Cardin and Van Hollen For Historic Vote Toward Real Relief on Prescription Drug Pricing

FOR IMMEDIATE RELEASE:
August 7, 2022

CONTACT:
Nancy Carr, AARP Maryland
443-787-5382
ncarr@aarp.org

Senate Bill Allows Medicare to Negotiate Lower Drug Prices and Caps Out-of-Pocket Spending on Medications for Seniors

ANNAPOLIS, Md– Earlier today the Senate voted to pass the Inflation Reduction Act of 2022, a bill that includes several key provisions to lower the prices of prescription drugs. AARP Maryland thanks Senators Ben Cardin and Chris Van Hollin for supporting this critical legislation and moving one step closer to real relief for seniors.

The Inflation Reduction Act includes key AARP priorities that will go a long way to lower drug prices and out-of-pocket costs. AARP fought for provisions in the bill that will:

• Finally allow Medicare to negotiate the price of drugs
• Cap out-of-pocket prescription drug costs in Medicare Part D at $2,000 each year
• Hold drug companies accountable when they increase drug prices faster than the rate of inflation, and
• Cap co-pays for insulin to no more than $35 per month.
  

Jo Ann Jenkins, AARP Chief Executive Officer, issued a statement reacting to the Senate vote.

“Since AARP’s founding, we have fought for older adults to have access to affordable health care – including prescription drugs. And we have been working for nearly two decades to allow Medicare to negotiate the price it pays for medications. Thanks to today’s historic vote in the Senate, millions of Americans 50+ are one step closer to real relief from out-of-control prescription drug prices. This bill will save Medicare $288 billion and give seniors peace of mind knowing there is an annual limit on what they must pay out-of-pocket for medications. Lowering prescription drug prices is a top priority for Americans, with more than 80% of people from both political parties supporting the measure. We thank all the senators who voted today to lower drug prices.

“We urge the House to move quickly and enact this momentous reform. AARP fought hard for this victory, and we will keep fighting to get Americans relief from the high price of prescription drugs.”

About AARP

AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on social media.