AMAC proudly supports Senator McSally’s bill that helps seniors save money on the high cost of prescription drugs.
March 11, 2020
The Honorable Martha McSally
Senator from Arizona
404 Russell Senate Office Building
Washington, DC 20510
Dear Senator McSally,
On behalf of the more than 2.1 million members of AMAC – Association of Mature American Citizens – including the nearly 64,000 members residing in the state of Arizona, I write to express our support for S. 3384, the Lowering Prescription Drug Prices for America’s Seniors and Families Act of 2020.
The vast majority of AMAC members identify high drug costs as a major concern for them in retirement. S. 3384 provides for a direct negotiation between Medicare and drug companies in a timeframe that is sensitive
to patent expirations. Your bill smartly allows for manufacturers to recoup their research and development investment and fund future investments while protecting seniors from forthcoming increases in medication prices. It also levels the playing field for patients by letting Medicare exclude coverage for non-essential drugs should price negotiations with manufacturers fail and establishes a consumer-friendly default price.
S. 3384 also calls for sensible drug reimportation from Canada. Medications would have to meet FDA safety standards and pose no risk to seniors’ health and safety. Further safeguards include the prohibition of
reimportation of opioids and biologics.
The bill empowers seniors to take more control over their prescription costs by requiring Medicare Part D plans to include real-time benefit information so beneficiaries know what’s covered on their formulary and how much they would have to pay out-of-pocket. We were also pleased to see that S. 3384 caps out-of-pocket drug spending for seniors at $3100/year and shifts the responsibility of those costs to drug companies and plan
Our members frequently tell us of the financial burden they experience when paying for their prescription drugs. We are grateful to you, Senator McSally, and your dedicated staff for recognizing the need to address
the high cost of drugs for those living on a fixed income.
We encourage you to continue your advocacy on behalf of seniors and are pleased to offer our organization’s full support for the Lowering Prescription Drug Prices for America’s Seniors and Families Act of 2020.