Washington, DC – The ERISA Industry Committee (ERIC) provided a statement for the record to the U.S. Senate Committee on Finance ahead of today’s hearing titled “Prescription Drug Price Inflation: An Urgent Need to Lower Drug Prices in Medicare.”
ERIC’s statement urges the Committee to protect the 180 million Americans – employees, families, and retirees – who receive their health care benefits through their employer from shouldering the costs of any changes to the Medicare program. ERIC calls on Congress to ensure that measures such as negotiating prescription drug costs and inflation caps in the Medicare program do not negatively impact private sector payors. Lawmakers must put robust safeguards in place, protecting employers and consumers from experiencing cost-shifting increases due to changes in how Medicare pays for drugs.
“ERIC urges Congress to take steps to shelter employers and consumers from picking up the tab for any changes made to how Medicare pays for prescription drugs. If lawmakers fail, employees and their families will be put under additional financial stress paying for high drug costs,” said Annette Guarisco Fildes, President and CEO, ERIC.
Click here to read ERIC’s statement for the record.