After Years Of Increases, Could Medicare Lower Medicine Costs?

Medicine manufacturing line
Shiavon Chatman
September 9, 2021

Dorinda’s work hours were being cut – but her parent’s medicine kept getting more expensive! She was falling further behind on her bills because her parents’ health came first. 

How did it get so bad?

For years, pharmaceutical companies have been raising the prices of prescription drugs – and many of us haven’t been able to keep up. Low income families like Dorinda’s, even those with health insurance, can’t afford life saving medicine!

Luckily, this might be about to change.

Dorinda’s parents are on Medicare, the government-run health care plan for seniors. 

Congress is considering its next major budget bill – which if passed would give Medicare the power to negotiate the prices of prescription drugs. What does that mean for Dorinda and her parents?

For years, drug companies have had almost no regulation on how they price medicines. High drug prices have meant big profits for these companies – and more expensive health insurance for everyone.

More than 60 million people are on Medicare. That means if the bill passes, the government can wield its power in numbers to force companies to lower drug prices.

Whether the bill passes or not, it’s clear the cost of medicine in America is ridiculous. How much money you have shouldn’t determine the level of care you receive, and corporations shouldn’t be making a profit off of live-saving medicines!

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