according to industry experts, health insurance premiums will jump 13 to 24 percent next year. What is driving this increase? Mostly the cost of prescription drugs. To deflect attention from these remarkably high prices, the drug industry argues that prescription medicines actually save money by reducing health care costs. If they were more reasonably priced, that might be true. There is no doubt that medicine helps alleviate the need for other health care services. But prescription drugs are priced so outrageously high that their inflationary impact far outstrips any savings. Skyrocket insurance premiums simply do not lie. There is no excuse for the drug industry's pricing practices. There is no excuse for the tactics drug makers use to block lower-priced generic drugs from the market. There is no excuse for the drug makers' lobbying tactics to try to kill our legislation. This body must act on H.R. 5272, legislation that will stop the gaming and deliver lower drug prices to the American people, an estimated $60 billion in savings. I urge House Republican leadership, all too often too close to the drug industry, to bring this consumer savings bill up for a vote before Columbus Day.
Editor's note · Context
Addressing the rising cost of health insurance premiums and prescription drug prices.
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