The National Hispanic Council on Aging (NHCOA) continues to express serious concern about efforts to lower prescription drug prices that do not fully account for their impact on patient access, health equity, and medical innovation. While proposals such as the Most-Favored-Nation drug pricing model stem from a legitimate need to address the high cost of medications in the United States, broad and inflexible approaches, such as these, risk disrupting the pharmaceutical marketplace and research efforts in ways that could disproportionately harm older adults and underserved communities, including Latino older adults who already face significant barriers to care. Sustainable solutions must prioritize affordability without undermining access to life-saving treatments.
To achieve this balance, Congress and the Administration should work together on comprehensive reforms, including strengthening and modernizing the 340B Drug Pricing Program and addressing the role of pharmacy benefit managers (PBMs) to ensure transparency, accountability, and that savings reach patients directly. Lowering drug prices should not come at the expense of access or innovation, and policymakers must pursue reforms that protect the health, dignity, and well-being of older adults nationwide.
Avenues like the Pharmacy Benefit Manager (PBM) Price Transparency and Accountability Act, introduced by Senate Finance Committee Chair Mike Crapo (R-ID) and Ranking Member Ron Wyden (D-OR) present far more equitable and reliable means of addressing drug affordability. NHCOA encourages its constituents to support the PBM Price Transparency and Accountability Act, and discourages further exploration of MFN drug pricing.
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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