House panel discusses rising Medicare prescription drug prices
The House Energy and Commerce Subcommittee on Health today held a hearing examining the increasing cost of prescription drugs in the Medicare program and ways to improve coverage and reduce costs for seniors. The hearing focused predominantly on Medicare Parts B and D.
Witness James Mathews, executive director for the Medicare Payment Advisory Commission, said the commission is concerned that “high prices for certain drugs make it difficult to ensure beneficiaries’ access to medications.”
House Energy and Commerce Committee Ranking Member Greg Walden, R-Ore., discussed the need to modernize Part B to keep patient out-of-pocket costs low and affordable.
“We have worked in a bipartisan manner on lowering drug costs over the last several years during my tenure as chairman of this committee, and during the first few months of this year we have continued those efforts,” Walden said. “So I believe that that should continue and this hearing will help us further our bipartisan work to lower drug costs for American consumers and seniors who rely upon Medicare.”
The AHA has offered a number of policy solutions to address the rising cost of prescription drugs.