Petroplex News

Congressmen August Pfluger and Don Davis have introduced a bipartisan bill aimed at reducing out-of-pocket expenses for seniors on Medicare. The proposed legislation, known as the Reducing Drug Prices for Seniors Act, seeks to adjust the coinsurance responsibility of individuals to reflect the net or actual price of prescription drugs, rather than their list prices.

Congressman Pfluger highlighted the ongoing healthcare debate in Washington, noting that it often focuses on partisan issues rather than addressing "skyrocketing costs with declining patient outcomes." He expressed concern that despite Medicare Part D's intention to make medications more affordable, many seniors still face difficult choices between essential prescriptions and basic needs. "That is why I am proud to lead the bipartisan Reducing Drug Prices for Seniors Act," Pfluger stated. He emphasized that this measure aims to lower costs by ensuring seniors' payments are based on actual drug prices.

Echoing these sentiments, Congressman Davis remarked, "Seniors on Medicare should not have to face undue hardship at the pharmacy counter." He pointed out that easing the purchase of prescription drugs for those on Medicare could reduce financial burdens and improve prospects for retirees. Davis added that after years of hard work, seniors deserve a stable retirement.

Currently, coinsurance payments under Medicare are determined by a percentage of a drug's list or wholesale price. This means patients might pay significantly more out-of-pocket compared to what insurance companies pay. The new bill would ensure that these payments align with the net cost faced by insurers.

This legislative effort could notably impact over 123,000 Medicare beneficiaries in Texas's 11th Congressional District alone. Senators Rosen and Cornyn had previously introduced a Senate version of this bill in May 2024.