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Pallone Stresses Need for Medicare Prescription Drug Reform After CMS Announces Part B Premium Increase

Nov 12, 2021
Press Release

Energy and Commerce Committee Chairman Frank Pallone, Jr. (D-NJ) released the following statement today after the Centers for Medicare & Medicaid Services (CMS) announced that Medicare Part B premiums paid by beneficiaries will increase next year, and attributed the increase largely to the rise in prescription drug costs:

“Today’s announcement from CMS confirms the need for Congress to finally give Medicare the ability to negotiate lower prescription drug costs and establish a rebate for drugs that increase faster than inflation.  Skyrocketing drug prices not only make it harder for seniors to afford the lifesaving drugs they need, but also drive up their health care premiums for doctor’s visits and outpatient care.  This double financial whammy simply cannot continue, and that’s why Congress must pass the bicameral Medicare prescription drug agreement that was included in the Build Back Better Act last week.  We simply cannot wait any longer to provide real relief to seniors.”

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