TL/DR –
U.S. Senators Jeanne Shaheen and Maggie Hassan, and U.S. Representative Annie Kuster joined President Joe Biden in celebrating the Biden-Harris Administration’s efforts to reduce the cost of prescription drugs. Measures include capping the cost of insulin at $35 for Medicare beneficiaries and allowing the federal government to negotiate prices for drugs covered under Medicare. Approximately 1.5 million Medicare enrollees saved nearly $1 billion on prescription drugs in the first half of 2024, while taxpayers are expected to save an estimated $6 billion in prescription drug costs on newly negotiated drugs.
Senators Celebrate Lowered Prescription Drug Prices in New Hampshire
U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH), together with Representative Annie Kuster (NH-02), joined President Joe Biden at New Hampshire Technical Institute, Concord, to commend the Biden-Harris Administration’s historic measures for reducing prescription drug prices. The Inflation Reduction Act capping insulin cost at $35 for Medicare beneficiaries and allowing federal negotiation of Medicare Part B and Part D drug prices were among the celebrated actions. Shaheen, co-chair of the U.S. Senate Diabetes Caucus, is a leading advocate for the INSULIN Act, aiming to cap insulin costs for more Americans. Images from the event are available here.
Statement from Senator Shaheen
Senator Shaheen expressed enthusiasm over President Biden’s visit and the administration’s successful efforts to lower prescription drug prices, including the insulin cap for Medicare beneficiaries. She stressed the importance of passing the bipartisan INSULIN Act to benefit more Americans.
Statement from Senator Hassan
Senator Hassan also welcomed Biden’s visit and highlighted the administration’s efforts to reduce costs for Americans, especially seniors, by challenging Big Pharma and reducing prescription drug prices.
Statement from Congresswoman Kuster
Congresswoman Kuster said the administration’s focus on lowering prescription drug costs and expanding healthcare access is making a significant difference in the lives of many Americans, including Granite Staters.
Efforts to Reduce Drug Prices
The New Hampshire Congressional delegation, including Shaheen, has backed efforts to combat inflated drug prices and prevent manufacturers from exploiting the drug approval process to limit competition. Notable measures include the provisions in the Inflation Reduction Act. A recent report revealed that the Act has saved Medicare enrollees nearly $1 billion on prescription drugs in 2024 alone.
Shaheen’s Fight for Lower Insulin Prices
Shaheen fought for a provision in the Inflation Reduction Act that caps out-of-pocket costs for Medicare diabetes patients. As co-chair of the Senate Diabetes Caucus, she has persistently pushed to hold insulin manufacturers, insurers, and pharmacy benefit managers accountable for insulin price hikes. Alongside Senator Susan Collins (R-ME), she introduced the INSULIN Act aimed at making insulin more accessible and affordable for millions of Americans.
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