The National Hispanic Council on Aging appreciates Chairman Bill Cassidy and Ranking Member Bernie Sanders for convening this important hearing on strategies to lower prescription drug costs and improve affordability for patients.
For older Hispanic adults, affordability challenges are particularly acute. Many live on fixed incomes, manage multiple chronic conditions, and rely on Medicare or Medicaid for their health coverage. Even modest increases in prescription drug costs can force difficult tradeoffs between medications and other basic needs, placing seniors at greater risk of worsening health and financial instability.
At the same time, having insurance coverage does not always guarantee access to needed medications. NHCOA regularly hears from older adults who face high out-of-pocket costs, coverage restrictions, and administrative barriers that delay or prevent access to prescribed treatments. These challenges are often compounded by language barriers, limited digital access, and the complexity of navigating coverage rules.
While increased competition in the pharmaceutical market has the potential to lower costs, those savings do not consistently reach seniors at the pharmacy counter. When pricing and rebate practices lack transparency, and formulary and utilization management policies are restrictive, patients may be steered away from lower-cost options and face delays in care. For older adults managing chronic conditions, even short delays can lead to missed medications, avoidable complications, and higher long-term costs to the healthcare system.
Greater transparency, accountability, and oversight are essential to ensuring that efforts to lower drug prices translate into meaningful savings for patients. Policymakers should prioritize solutions that strengthen competition, improve visibility into pricing and coverage decisions, and ensure that cost reductions are passed through to beneficiaries—particularly those in underserved communities.
The National Hispanic Council on Aging looks forward to working with Congress to advance policies that lower prescription drug costs, improve access to care, and strengthen the health and economic security of older adults.ng and coverage decisions, and ensure that cost reductions are passed through to beneficiaries — particularly those in underserved communities.
The National Hispanic Council on Aging looks forward to working with Congress to advance policies that lower prescription drug costs, improve access to care, and strengthen the health and economic security of older adults.
About NHCOA:
NHCOA is the leading national organization working to improve the lives of Hispanic older adults, their families, and their caregivers. Headquartered in Washington, DC, NHCOA has been a strong voice dedicated to promoting, educating, and advocating for research, policy, and practice in the areas of economic security, health, and housing for Hispanic older adults, families, and caregivers for the last 51 years.
For more information about NHCOA call 202-347-9733 or visit www.NHCOA.org.
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