(HARTFORD, CT) – Governor Ned Lamont and Comptroller Sean Scanlon are applauding the Biden-Harris administration’s announcement today on the first ten prescription drugs selected for Medicare price negotiations. The action builds on other provisions in the Inflation Reduction Act to make health insurance more affordable and reduce medication prices for seniors.
According to a state-by-state analysis from the U.S. Department of Health and Human Services, Medicare enrollees in Connecticut spent more than $43.7 million in out-of-pocket costs on the ten selected drugs in 2022. According to the Office of the State Comptroller, the ten selected drugs account for more than $100 million annually for Medicare-eligible state retirees, meaning these negotiations will present further savings for not only the retirees, but also taxpayers as well.
“I applaud President Biden for taking the side of consumers who are making impossible tradeoffs between the price of medicines they need to live and the costs of other basic necessities they need to remain healthy, such as housing, food, fuel, and other healthcare needs,” Governor Lamont said. “I will continue working here in Connecticut and in partnership with the federal government and other states to ensure all families can afford prescription drugs when they need them.”
“Today’s announcement is a big deal that will make healthcare more affordable for the American people, bringing direct relief at the pharmacy counter and reducing costs for those on Medicare in Connecticut,” Comptroller Scanlon said. “No one should ever have to choose between paying for medications they need to live and paying for other necessities and, thanks to President Biden’s efforts to lower drug costs for seniors, they won’t have to.”
This announcement complements steps the Lamont administration and Connecticut General Assembly have taken to reduce prescription drug and other health care costs for Connecticut residents, including passing this year’s Public Act 23-171, establishing annual cost growth and quality benchmarks, creating the Covered Connecticut program, carefully reviewing proposed insurance rate increases, and capping the out-of-pocket cost of insulin for people on state-regulated insurance plans.