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Maloney Helps Pass Historic Bill to Lower Drug Prices for Hudson Valley Seniors and Families

Dec 12, 2019
Press Release

Maloney Helps Pass Historic Bill to Lower Drug Prices for Hudson Valley Seniors and Families

Washington D.C. – Today, Rep. Sean Patrick Maloney (NY-18) helped pass H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act, a historic bill that will lower prescription drug prices for thousands of Hudson Valley seniors and families.

“No New Yorker should be forced to choose between paying for the prescription drugs they need or putting food on the table. Today, we stood up to powerful drug companies and demanded that patients come before profits,” said Rep. Sean Patrick Maloney. “This bill will lower drug costs for thousands of folks in the Hudson Valley and millions of Americans – and I’m proud to support it.”

The Elijah E. Cummings Lower Drug Costs Now Act will:

  • Give Medicare broad power to negotiate directly with prescription drug companies, lowering the cost of prescription drugs for all Americans
  • Create a new $2,000 out-of-pocket limit on prescription drugs for Medicare beneficiaries
  • Establish a maximum price for any negotiated drug through a new international price index, so no American is forced to pay more for a prescription than patients in other countries
  • Force prescription drug companies to the table by threatening fines or legal action for non-compliance
  • Direct savings from negotiating down drug prices back to New York taxpayers by reinvesting billions in research and innovation for breakthrough treatments and cures
  • Expand Medicare coverage for dental, vision and hearing
  • Increase the number of seniors eligible for the Low Income Subsidy Program and the Medicare Savings Program, which help beneficiaries with low incomes pay for Part D plan premiums, out-of-pocket prescription costs and coinsurance
  • Save taxpayers $5 billion in spending over 2020-2029

The Elijah E. Cummings Lower Drug Costs Now Act is supported by several national and New York statewide organizations, including AARP of New York:

“Drug companies are price-gouging older Americans and taxpayers– who pay the highest drug costs in the world,” said Beth Finkel, AARP NY State Director. “AARP is proud to support H.R. 3, which would allow Medicare to negotiate drug prices and cap out-of-pocket costs for Part D enrollees. The bill also enhances Medicare by improving access and adding needed dental, hearing, and vision coverage. AARP applauds Congressman Maloney and his colleagues for passing H.R. 3 and working to provide relief for older Americans struggling to afford needed medications and services.”

In New York’s 18th Congressional District, over 95,000 people are enrolled in a Medicare Part D plan, and over 520,000 people are enrolled in private health insurance – all of whom will see prescription drug prices lowered by H.R. 3.