In 2020, prescription drug prices increased at twice the inflation rate of the U.S. economy, according to a recent AARP report. On average, older Americans take 4.7 prescription drugs every month.
Much of the escalating cost is due to a law that created Medicare Part D, passed during the George W. Bush administration. It includes the non-interference clause that prevents the Secretary of Health and Human Services from negotiating the prices of drugs paid by Medicare recipients.
Rich Fiesta, Executive Director of the Alliance for Retired Americans, joined the America’s Work Force Union Podcast to discuss a recent ARA poll and why lower prices for Medicare drugs would benefit all Americans. Continue reading