The Alliance for Aging Research Applauds Proposed Legislative Compromise between Lawmakers and Pharmaceutical Companies
Washington, D.C.-This week Senator Max Baucus (D-MT), Chairman of the Senate Finance Committee, announced that drug manufacturers and lawmakers have struck a legislative compromise to reduce America's healthcare costs by $80 billion over the next several years. The agreement would commit drug companies to reducing the out-of-pocket costs that Medicare Part D participants incur while in the coverage gap.
Daniel Perry, executive director of the not-for-profit Alliance for Aging Research, issued this statement in support of the compromise: “Many older Americans enrolled in Medicare Part D face daunting costs on prescription drugs while in the coverage gap, especially those who are managing multiple chronic conditions. By voluntarily reducing these costs, pharmaceutical companies will ensure that more seniors can afford access to the breakthrough treatments they need.”
“Medicare Part D has provided millions of older Americans with prescription drug coverage they would otherwise not have. Many valuable and innovative therapies exist and many more are in the pipeline with significant potential to treat the diseases of aging. This agreement takes important steps to continue the success of the Medicare Part D program and will play an integral role in supporting the health and wellbeing of older Americans and those who are disabled.”
Founded in 1986, the Alliance for Aging Research is a nonprofit, independent organization dedicated to improving the health and independence of aging Americans through public and private funding of medical research and geriatric education. The Alliance combines the interest of top scientists, public officials, business executives, and foundation leaders to promote a greater national investment in research and new technologies that will prepare our nation for the coming senior boom, and improve the quality of life for today’s older generation.