Drug Costs Act needed to lower prices in US
DEAR EDITOR:
For decades, the prices for prescription drugs in this country have risen far faster than inflation, making the price for drugs in the USA the highest in the world.
Pharmaceutical corporations again welcomed in the new year with price increases on more than 250 of the highest-priced drugs, including insulin.
On Dec. 12, 2019, the House passed HR 3, the Lower Drug Costs Now Act.
HR 3 would require Medicare to negotiate drug prices on the 250 high-priced drugs and make the lower negotiated drug prices available to all insured Americans, not just seniors. It also caps off annual out-of-pocket costs on drugs for Medicare beneficiaries at $2,000.
HR 3 is a win-win situation with savings for Medicare and taxpayers. It works for the VA.
Now we must make it clear to the Senate to pass this legislation and for President Trump to sign it.
GEORGE PHILLIPS
Youngstown