FOR IMMEDIATE RELEASE                                                   CONTACT:  Matt Ferraguto

June 10, 2002                                                                                                            (617) 428-2000

 

STATEMENT OF CONGRESSMAN STEPHEN F. LYNCH

PRESS CONFERENCE ON THE URGENT NEED TO PROVIDE A

PRESCRIPTION DRUG BENEFIT UNDER MEDICARE

 

Thank you Phil.  Your organization, and the entire Alliance for Retired Americans, have done so much in making the American public aware of this issue. And thank you to Congressmen Frank, Tierney and Capuano for being here today – Massachusetts is lucky to have a delegation so committed to making prescription drugs affordable for seniors and the disabled.

 

When Medicare was first enacted in 1965, few knew how important a part of modern medicine prescription drugs would become, and drug coverage wasn’t included in the plan.  After decades of pharmaceutical and treatment breakthroughs, doctors are relying more and more on the power and effectiveness of prescription drugs.   Today, HMOs and most other health plans all cover the cost of prescription drugs, but Medicare still lags behind and has left many seniors with no options.

 

Drug prices have skyrocketed, increasing by more than 10 percent every year for the last several years. Many senior citizens are unable to afford the rising costs, and many are forced to choose between heating their homes or putting food on the table and filling their prescriptions.  Meanwhile, the big drug companies have been at the top of the Fortune 500 class – taking in over $37 billion last year alone.

 

The problem of prescription drug prices is worst in the United States.  Today, our nation is the only country in the world that doesn’t use price controls to help seniors afford prescription drugs.  Other nations are able to bargain through bulk purchasing of prescription drugs, and don’t have many of the loopholes we have that needlessly stall the introduction of generic drugs on the market.

 

That’s why it’s so much cheaper to fill prescriptions in other nations.   What’s fascinating is that a recent Australian study documenting prescription drug prices showed that after the United States, Canada has the SECOND HIGHEST prices worldwide.  And you will still hear dozens of stories from each of our bus riders here today on the drastic savings consumers see in Canada.

 

I was just appointed to the Democratic Task Force on Prescription Drugs.  Our job is to draft meaningful legislation to provide a real prescription drug benefit under Medicare.  We still have a chance to pass legislation this year, if we can attract bipartisan support.

 

This is an issue that affects everyone, and as drug prices continue to rise, the problem only gets worse. We have real solutions that will significantly reduce costs for America’s seniors – it’s up to all of us in Congress to make those solutions a reality.

 

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