Nevada’s Lee helps introduce bill to reduce prescription drug prices

WASHINGTON D.C., Virginia (KOLO) - Nevada Congresswoman Susie Lee and Congressman Brian Fitzpatrick (R-PA) have introduced a bill they hope will cut prescription drug costs for seniors.

The Seniors Securing Access to Vital and Essential Prescription Drugs Act would expand access to Medicare subsidies.

Nevada has more than 560,000 residents enrolled in Medicare, more than 406,000 of whom get their prescription drug coverage through Medicare Part D.

As of now, seniors with substantial savings are excluded from a Medicare assistance program providing financial assistance to those who cannot afford their premiums, deductibles, and prescription copayments as those savings put them over the income and asset eligibility limits for the program.

Lee and Fitzpatrick’s new legislation would end that penalty by excluding covered retirement accounts from extra help eligibility determinations.

“We’ve made major strides in our efforts to lower the cost of prescription drugs, but the work continues,” said Congresswoman Susie Lee. “That’s why I’m working to bring Republicans and Democrats together to tackle skyrocketing prescription drug costs. I’m proud to partner with Congressman Brian Fitzpatrick to introduce this legislation to help seniors qualify for Medicare’s ‘Extra Help’ program and ensure that seniors who saved responsibly for retirement don’t have that held against them. By working together, we can lower out-of-pocket costs for our most vulnerable seniors.”