President Biden Urges Capping Medicare Patient Out-of-Pocket Drug Costs as Part of Prescription Pricing Policies

August 12, 2021

Washington, D.C—Today the president called on Congress to bring down patient prescription drug costs, an issue of critical importance to cancer patients. Among the provisions the president outlined was establishing an annual cap on Medicare enrollees’ out-of-pocket expenses.

The following is a statement from Lisa Lacasse, president of the American Cancer Society Cancer Action Network (ACS CAN):

“We greatly appreciate the president’s commitment to addressing prescription drug costs for patients, especially for those enrolled in Medicare. Cancer is a disease more common with age and can be very expensive to treat. For Medicare enrollees who currently face unlimited cost-sharing for some of their prescription drugs, the financial burden can be overwhelming. Establishing an annual cap for outpatient prescription drug costs would enable patients to plan for their expenses and provide some financial relief for a population often on fixed incomes.

We look forward to working with the administration and lawmakers to find ways to best reduce patient costs without compromising patient access or reducing critical research that is essential to developing future cures.

On behalf of the more than 1.9 million Americans estimated to be diagnosed with cancer this year ACS CAN is encouraged by the administration’s focus on addressing these pressing issues and urges bipartisan solutions that will reduce the financial burden many cancer patients face.”

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