Morelle co-sponsors bill to lower prescription drug costs

Posted 29 August 2023 at 5:30 pm

Press Release, Congressman Joe Morelle

ROCHESTER – Today, Congressman Joe Morelle announced his co-sponsorship of the Lowering Drug Costs for American Families Act, legislation to expand the landmark drug pricing reforms enacted in the Inflation Reduction Act to more individuals and families in our community.

“The skyrocketing cost of prescription drugs has trapped too many families in a cycle of economic distress that threatens their health and financial security,” Morelle said. “The Lowering Drug Costs for American Families Act will create significant cost-savings for our families and ensure no one is forced to ration medication or skip a refill just to make ends meet. I’m proud to support this common-sense legislation, and I hope to see it passed into law.”

Last year, Congressman Morelle voted to pass the Inflation Reduction Act, which included provisions to allow Medicare to negotiate the prices of some of the most expensive drugs. However, this program created by the Inflation Reduction Act only applies to Medicare recipients, not Americans on private insurance plans. The Lowering Drug Costs for American Families Act would expand this language and enable Americans with private health insurance coverage to have access to the same drug price negotiation program.

Specifically, the Lowering Drug Costs for American Families Act would:

  • Extend the historic drug price negotiation program to Americans with private coverage;
  • Stop drug companies from raising prices faster than inflation by ensuring that the inflation rebates enacted under the Inflation Reduction Act also apply to individuals covered by private health plans;
  • Strengthen the drug price negotiation program to deliver more savings to the American people by increasing the annual number of prescription drugs selected for negotiation from 20 to 50.