Require Medicare to use its bargaining power to negotiate with the prescription drug companies for better prices – a practice that is currently banned by law.
Last year there were more than 37 million Medicare beneficiaries enrolled in private Part D plans. 90 percent of seniors take at least one prescription. Many seniors – almost two-thirds – take three or more prescription drugs.
Not only would negotiation substantially reduce prices seniors and people with disabilities pay for drugs, it could save Medicare between $230 billion to $541 billion dollars over the next decade.
83 percent of Americans support allowing the federal government to negotiate with drug companies for better prices.