TALKING WITH THE MEDIA ABOUT SENIORS AND PRESCRIPTION DRUGS

Older Americans especially those who live on fixed incomes, like Social Security and pensions, continue to struggle with the high cost of prescriptions drugs, which are skyrocketing at rates that far exceed inflation.  These price increases cannot be justified and are making prescription medicines unaffordable for too many seniors.  Seniors can't afford to wait any longer for a prescription drug benefit in Medicare.
 
Seniors Need a Prescription Drug Benefit in Medicare:

• Seniors spend 42 cents of every dollar spent on prescription drugs in this country.  However, millions of seniors do not have insurance coverage to help pay for the increasingly high priced drugs they need.
• As prescription drug prices continue to skyrocket, more and more seniors are forced to go without much-needed medications.
• Seniors can't afford to wait any longer for a prescription drug benefit in Medicare.  Congress must act now to provide relief to the millions of older Americans-many living on fixed incomes-struggling with high prescription drug costs.

Prescription Drug Prices are Rising Faster than Inflation:

• Pharmaceutical companies charging skyrocketing drug prices like to sugar coat the pain by saying those prices are needed for research and development.  The truth is high prices are much more associated with their profits.
• As the population that needs drugs most but is least likely to have drug coverage, seniors are most directly affected by rising drug prices.
• Drug prices continue to rise much faster than inflation.  In fact, the top 50 most prescribed drugs to seniors rose in price, on average by nearly three-and-one-half times the rate of inflation from January 2002 to January 2003.
• Of the 50 drugs most commonly used by seniors, the average annual cost per prescription was $1439 as of January 2003.

An Uphill Battle in Congress:

• Once again, Congress has shortchanged seniors by failing to include an adequate amount of money for a comprehensive drug benefit in the Medicare program. A half a loaf is not enough to give seniors the real relief they so desperately need.
• Therefore, the first bite of this half loaf should go to help the sickest and neediest of seniors. We would have a bigger loaf if Congress had put the needs of seniors first.
• Next year, Congress must make the needs of seniors a top priority. Seniors cannot afford to wait any longer for a comprehensive prescription drug benefit in the Medicare program.

November 2003