October 14, 2022
Seniors Laud President Biden’s Executive Order Further Lowering Drug Costs
The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding the Executive Order directing the Department of Health and Human Services to explore additional actions it can take to lower prescription drug costs:
“The Executive Order signed by President Biden today shows a welcome commitment to lower drug prices and hold the pharmaceutical corporations accountable. It is a logical supplement to the landmark Inflation Reduction Act, which gives Medicare the ability to negotiate lower prices and cap out-of-pocket drug costs for Medicare beneficiaries.
“Seniors take more prescription drugs on average than the public at large. This action will provide additional economic relief for older Americans who would otherwise have trouble making ends meet each month.”
The order directs the Department of Health and Human Services (HHS) to utilize its Innovation Center to identify new ways to use the Innovation Center’s authority to lower drug costs and promote access to modern drug therapies for Medicare beneficiaries.
Contact: David Blank, firstname.lastname@example.org