Washington, D.C. – Today, Congressman Stephen F. Lynch (MA-08) voted to pass H.R.3, the Elijah E. Cummings Lower Drug Costs Now Act, which will help bring down the cost of prescription drugs and strengthen the health and financial security of Americans and their families. This bill will give Medicare the power to negotiate directly with drug companies and will make those lower drug prices transparent so that private insurance companies can make the same prices available to their consumers. H.R. 3 would also create a new $2,000 out-of-pocket limit on prescription drug costs for Medicare beneficiaries and reinvests all the money saved directly into improving Medicare.
“Many constituents in my district, and all over Massachusetts, are facing skyrocketing prescription drug prices that threaten their health, well-being and cause them significant financial hardships,” said Rep. Lynch. “No hard working American should have to choose between purchasing a life-saving medication or paying for basic needs such as food, clothing and heat in the wintertime. I was proud to vote for H.R.3 today and I am pleased to see the bill invests the money it saves into expanding Medicare’s benefits to include dental, vision, and hearing; as well as assisting innovation in the search for new cures and treatments and helping combat the opioid crisis. I urge the Senate to take up and pass H.R.3 and send it to the President’s desk for his signature.”
In the 8th Congressional District of Massachusetts, there are 104,880 people enrolled in a Medicare Part D plan and 588,253 people enrolled in private health insurance – all of whom stand to benefit from H.R.3. Additionally, those living with diabetes, cancer, arthritis, asthma, HIV/AIDS, and multiple sclerosis are expected to experience the following significant savings as a result of H.R.3:
- Diabetes: Over 30 million Americans live with diabetes, including 506,608 people in Massachusetts. H.R.3 can lower the average total cost of the insulin medication NovoLOG Flexpen by 76%
- Leukemia: In 2019, an estimated 1,140 people in Massachusetts will be diagnosed with leukemia. H.R.3 can lower the average total cost of the leukemia medication Tasigna by 71%
- Breast cancer: In 2019, an estimated 6,610 women in Massachusetts will be diagnosed with breast cancer. H.R.3 can lower the average total cost of the breast cancer medication Ibrance by 65%
- Prostate cancer: In 2019, an estimated 2,710 people in Massachusetts will be diagnosed with prostate cancer. H.R.3 can lower the average total cost of the prostate cancer medication Zytiga by 66%
- Arthritis: 22% of Massachusetts residents have arthritis, and H.R.3 can lower their total costs on most arthritis drugs from about $40,000 to $10,000 per year
- Asthma: About 11.5% of Massachusetts residents live with asthma, and H.R.3 can lower their total costs on most asthma drugs from about $1,400 to $270 per year
- HIV/AIDS: In 2015, 605 Massachusetts residents were diagnosed with HIV, and H.R.3 can lower their total costs on most HIV drugs from about $15,000 to $6,000 per year
- Multiple Sclerosis (MS): One million people are living with MS in the United States, and H.R.3 can lower their total costs on most MS drugs from about $40,000 to $13,000 per year
In addition to lowering prescription drug prices, H.R.3 also reinvests savings into expanding Medicare coverage for dental, vision, and hearing services for constituents in the 8th Congressional District of Massachusetts:
- About 99% of beneficiaries, or 141,300 people, stand to gain from adding a dental benefit
- About 88% of beneficiaries, or 125,200 people, stand to gain from adding a vision benefit
- About 94% of beneficiaries, or 132,900 people, stand to gain from adding a hearing benefit