RICHMOND, Va. — As Medicare begins the process of negotiating prices for certain high-cost drugs for the first time ever, Freedom Virginia today renewed its call for the General Assembly to build on the progress of the Inflation Reduction Act by passing a Prescription Drug Affordability Board.
Rhena Hicks, executive director of Freedom Virginia, today released the following video message in which she shared her own experience with one of the drugs on Medicare’s list for price negotiation.
Hi, my name is Rhena Hicks. I’m the executive director of Freedom Virginia. We’re an advocacy organization focusing on helping working families thrive. I am also a mother, Hampton Roads community member and a type one diabetic.
Every day I take multiple medications to stay alive. Novolog is an insulin that I have taken to regulate my blood sugar. Without insurance, it would cost $15,000 each per year or more. Today we learned that Medicare will begin to negotiate with pharmaceutical companies to lower the price of Novolog.
While this is great news for our seniors, those of us who are not on Medicare will not benefit from these price negotiations. That’s why it is so important that the General Assembly pass legislation to establish a Prescription Drug Affordability Board to lower prices for everyone, regardless of your age.
Skyrocketing prescription drug costs affect everybody: our seniors, our families, our children, and it’s up to us to solve this issue and rein in out-of-control costs.
Virginia needs a Prescription Drug Affordability Board to place upper price limits on prescription drugs so we can bring down those costs. This policy is supported by a strong majority of Virginians, including Democrats, Independents and Republicans.
That’s why we’re calling on our state lawmakers to pass a Prescription Drug Affordability Board during the 2024 legislative session. Be sure to ask your legislator if they plan to vote for this bill.