RENO, NV – Today, U.S. Senator Jacky Rosen (D-NV) applauded the news that Medicare has successfully negotiated lower prices for seniors for ten critical medications. This was made possible thanks to the Inflation Reduction Act that Senator Rosen helped pass, which gave Medicare the authority to negotiate lower prescription drug prices directly with pharmaceutical companies for the first time in history. According to estimates, more than 65,000 of Nevadans on Medicare Part D rely on one or more of these negotiated medications.
“At a time when Nevadans are being squeezed by rising costs, this announcement is going to provide meaningful relief for seniors by lowering the prices of their much-needed life-saving medication,” said Senator Rosen. “I was proud to help pass the legislation that made this possible, and I’ll keep working to lower costs for all hardworking Nevadans.”
Senator Rosen has been a leader in fighting to lower costs for hardworking Nevadans. She co-sponsored the Empowering Medicare Seniors to Negotiate Drug Prices Act, which was the original legislation that would allow Medicare to negotiate for lower prices of prescription drugs for seniors. That bill served as the basis for the Medicare negotiation provisions in the Inflation Reduction Act that Senator Rosen helped pass into law, which included several wins she secured to help lower costs and put dollars back in the pockets of hard-working Nevadans, including provisions to: lower health care premiums, lower prescription drug costs, ensure taxpayers and rural communities get fair returns on leases of public lands for oil and gas, and expand clean energy tax credits. Earlier this year, Senator Rosen introduced bipartisan legislation to directly reduce out-of-pocket costs for seniors by requiring that Medicare prescription drug coinsurance payments be determined based on the lower net price of the medication as opposed to the higher list price.
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