Lowering Prescription Drug Costs: Rep. Abigail Spanberger’s Commitment to Virginia Seniors
In a recent news report, Rep. Abigail Spanberger of Virginia’s 7th District addresses the pressing issue of high prescription drug costs for seniors in her state. Spanberger has made it her top priority to tackle this problem and find solutions to make medication more affordable for those who need it most.
Over the years, Spanberger has heard countless heartbreaking stories from seniors and their families who are struggling to afford their prescription drugs. Many are forced to ration their medication, skip doses, or go into debt just to be able to afford their prescriptions. This is a crisis that cannot be ignored, and Spanberger is determined to make a difference.
One year ago, in August 2022, Spanberger voted to pass the Inflation Reduction Act, a law that is already making a positive impact on Virginia families and seniors. One of the key provisions of this act is the cap on the cost of insulin at $35 per month under both Medicare Part D and Part B. This has significantly reduced the financial burden for many seniors, like Lawrence from Caroline County, who now pays nearly three times less for insulin. The impact of this provision is clear, as Lawrence expresses his gratitude to Rep. Spanberger for making his medication more affordable.
Furthermore, the Inflation Reduction Act has sparked free-market solutions to the insulin affordability crisis. Drugmakers have voluntarily capped the monthly out-of-pocket cost of their insulin at $35, aligning with the popular provision in the law. This is a significant step forward, and Spanberger believes that this progress should be celebrated and built upon to ensure that all Virginians have guaranteed access to affordable insulin.
Another important aspect of the Inflation Reduction Act is its impact on the prices of other expensive and commonly used drugs under Medicare. The law puts an end to pharmaceutical companies’ monopoly control over drug prices and imposes penalties on companies that raise their prices out of step with inflation. This protects seniors from reckless price gouging and ensures that Medicare is not overcharged for essential medications.
According to AARP, the prices of many Medicare brand-name drugs have far outpaced the rate of inflation, making them unaffordable for seniors. Through the Inflation Reduction Act, Medicare now has the power to negotiate with drug manufacturers to lower the cost of these medications. This is a crucial step towards making healthcare more affordable and accessible for seniors.
In addition to these provisions, the law also makes recommended vaccines available to seniors at no cost, prevents healthcare premium hikes for Virginia families, and caps out-of-pocket drug costs at $2,000 for Medicare beneficiaries. These measures are aimed at providing relief to seniors and ensuring that they can access the medications they need without breaking the bank.
Rep. Abigail Spanberger is proud to have played a role in enacting the Inflation Reduction Act, and she is witnessing the positive impact it is having on the lives of Virginians. Testimonials from grateful constituents like John from Spotsylvania County highlight the importance of this law in providing much-needed assistance and relief to seniors who have been struggling with the high cost of prescription drugs.
Spanberger’s commitment to lowering prescription drug costs is commendable, and she encourages Virginians to reach out to her office for any assistance or information regarding this issue. By working together, Spanberger believes that we can continue to make progress and ensure that all Virginians have access to affordable medications.
Contact Rep. Abigail Spanberger’s Washington office at (202) 225-2815 or visit her website at spanberger.house.gov for more information or to share your concerns about prescription drug costs.
Original Story at richmond.com – 2023-08-26 11:15:00