O'Halleran Focused on Lowering Prescription Drug Prices

Statement

Today, following an announcement from the Speaker's office of the introduction of H.R. 3, the Lower Drug Costs Now Act, Congressman Tom O'Halleran (AZ-01) released the following statement:

"Every day, I hear from Arizona seniors and families concerned about the rising costs of health care and prescription drugs. There are over 1.2 million Medicare beneficiaries living in Arizona, many of whom live on a fixed income. Often, skyrocketing costs are forcing them to make the tough decision between life-saving prescription drugs and putting food on the table. This is unacceptable. I remain committed to bringing down the high costs of prescription drugs for Americans of every age by allowing Medicare to negotiate for lower prices, capping out-of-pocket drug expenses for seniors, and improving access to lower-cost generic drugs. I look forward to reviewing the Lower Drug Costs Now legislation and working with my colleagues on the Energy and Commerce Committee to improve the bill as it moves forward."

Last year, Rep. O'Halleran introduced legislation to limit the out-of-pocket costs seniors on Medicare would pay for their prescription drugs.

Prescription drug costs by the numbers

According to data from AARP and the Kaiser Family Foundation:

The average annual cost of prescription drug treatment increased by 57.8% between 2012 and 2017, while the annual income for Arizonans only increased by 12%.
In 2017, 26% of Arizona residents stopped taking medication as prescribed due to cost.
On average, older Americans take 4.5 prescription drugs every month. As of 2017, an older adult who used brand name prescription drugs is likely to have experienced an average annual retail cost of more than $30,000. This amount exceeds the median annual income for individual Medicare beneficiaries of $26,200.

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