2-27-2024 10:27pm

AARP Supports Landsman Bill to Help Lower Seniors’ Prescription Drug Costs

Beth Callahan Editor

LEBANON, OH -- AARP has offered its support for Congressman Landsman and Congresswoman Diana Harshbarger’s (R-TN-01) H.R.5385 – the Medicare PBM Accountability Act – bipartisan legislation to help lower the costs of prescription drugs for seniors covered by Medicare Part D and Medicare Advantage plans.

In September 2023, Congressman Landsman and Congresswoman Harshbarger introduced the Medicare PBM Accountability Act to require Pharmacy Benefit Managers (PBMs) that work with Medicare to secure price concessions on prescription drugs to report those cost savings, so that seniors are in a stronger position to benefit from those cost savings instead of them potentially being kept as profits by PBMs. In December 2023, the Medicare PBM Accountability Act passed unanimously out of the House Energy and Commerce Committee with bipartisan support.

AARP's Bill Sweeney, Senior Vice President of Government Affairs wrote ...“AARP, which advocates for the more than 100 million Americans age 50 and over, is pleased to support the Medicare PBM Accountability Act (H.R. 5385), as approved by the full Energy and Commerce Committee. We applaud your bipartisan efforts to address practices in the prescription drug market that can contribute to high prices for consumers and taxpayers. . . This increased transparency and accountability will help inform other efforts to lower costs for consumers and taxpayers.”

“To lower costs and improve seniors’ quality of life, we have to hold PBMs accountable, and I am grateful for AARP’s support. Our legislation will save seniors real money, and Congress must come together to get this done,” noted Congressman Landsman.

The full letter from AARP supporting the Medicare PBM Accountability Act can be found here.