FARMINGTON – A broad bill to tackle increasing prescription drug costs passed the U.S. House of Representatives with support from Assistant Speaker Ben Ray Luján of New Mexico and several representatives from Colorado.
According to Luján’s office, the Elijah Cummings Lower Drug Costs Now Act would save American households $120 billion, save private businesses more than $40 billion and save taxpayers about $500 billion in the next 10 years. The legislation would reinvest the tax savings into fighting the addiction crisis and expanding Medicare benefits to include vision, dental and hearing benefits.
“I often hear from families that the cost of prescription drugs is a burden threatening their economic stability and their health,” Luján said in a statement. “That is unacceptable. New Mexico families shouldn’t have to choose between making ends meet and affording their prescriptions.”
Both Reps. Diana DeGette and Ed Perlmutter of Colorado were cosponsors of the bill. The bill would let Medicare negotiate directly with drug companies to decrease prescription drug prices, give people with private insurance access to the lower prices negotiated by Medicare, limit the maximum price for negotiated drugs and create a $2,000 out-of-pocket limit on prescription drug costs for people on Medicare.
Under the new act, it’s estimated New Mexico residents could spend 3½ times less on insulin costs and would see lower prescription costs on some cancer medications.
It’s uncertain if the bill, ambitious and progressive in scope, will even be taken up for consideration by the Republican-controlled Senate. But Democrats in the House seemed undeterred.
“By passing this legislation, we are delivering on our commitment to the American people that health care is a right for all,” Luján said.
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