Betsy, of Biddeford, pays a ridiculous amount of money for Eliquis, a prescription drug she needs to keep her healthy and out of the hospital. The outrageous cost of prescription drugs is not a new issue for her. Betsy spent her career as a community health nurse, supporting patients who sometimes did not take their medications as prescribed because of the cost, only to end up in the hospital with serious complications. However, the issue became much more personal for Betsy once she retired and learned that her own prescription for Eliquis would cost $500 for a three-month supply.
Over 35 percent of Social Security recipients in Maine rely on their monthly benefits checks for 90 percent or more of their income. As inflation skyrockets, Mainers are forced to make difficult decisions about whether to fill their prescriptions, buy groceries or heat their homes. yanik88/Shutterstock.com
For Liz, of Portland, the cost of Meloxicam is what keeps her awake at night. Recently, she was shocked to learn that this prescription would cost her over $900 for a 30-day supply. Unable to cover that cost, Liz opted for a cheaper prescription that has more serious side effects, and cannot be used long term. Betsy and Liz are not alone in this struggle. All across the state, older Mainers struggle to pay for the prescription drugs they need. In fact, AARP Maine gets more calls at our office about the high cost of prescription drugs than on any other topic.
To put it simply, prescription drug prices are increasing at rates that most older Mainers cannot afford. Since 2006, the price of prescription drugs has outpaced inflation.
Over 35 percent of Social Security recipients in Maine rely on their monthly benefits checks for 90 percent or more of their income. As inflation skyrockets, Mainers are forced to make difficult decisions about whether to fill their prescriptions, buy groceries or heat their homes.
It is important to note that more than 40 percent of older Americans regularly take five or more prescription drugs, and nearly 20 percent take 10 or more, according to a 2020 report from the nonpartisan think tank Lown Institute. This is one of the many reasons state legislative leadership, AARP Maine and other advocacy groups have joined forces on multiple occasions to pass meaningful legislation to combat the high cost of prescription drugs in Maine. In 2019 and 2021, under the leadership of Senate President Troy Jackson’s office, a suite of bills was signed into law that strategically laid the groundwork for improved drug pricing transparency, affordability and availability.
While these measures take important steps to give seniors some relief, states cannot solve this crisis on their own. Congress has the power to get to the very heart of the problem – out-of-control drug prices – and right this wrong.
Mainers support common-sense solutions, including allowing Medicare to negotiate drug prices, which would save seniors and taxpayers billions, and finally put money back in people’s pockets instead of further supporting Big Pharma’s monopoly.
Drug prices are so expensive here in Maine and across America – three times what people in other countries pay for the same medicine – because pharmaceutical companies are free to price gouge patients and taxpayers. Unlike many other countries, the United States allows drugmakers to set their own prices, with virtually no accountability or transparency. Earlier this year, Big Pharma raised prices on nearly 800 prescription medicines. The truth is they use our federal tax dollars to fund research to develop new drugs, and then they charge all of us more than anyone in the world to buy those medications. The big pharmaceutical companies are making billions while Mainers and their fellow Americans are getting ripped off. It is unconscionable.
Maine’s seniors are fed up and they are speaking out. More than 31,000 have signed AARP’s petitions demanding Congress stand up for them and finally vote to lower prescription drug prices by allowing Medicare to negotiate for lower prices.
Big Pharma has been robbing Mainers and all Americans for far too long. It is time for Congress to fix an unfair system that is rigged against Americans, especially older ones. We pledge to work together to get this done and to get it done urgently. Older Mainers deserve nothing less.
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