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HB 154 Will Help to Lower Prescription Drug Costs

Jeanne Hamrick | 2/19/2021 | Albuquerque Journal

During the last N.M. legislative session, several bills became law that will begin to rein in the high costs of prescription drugs. Those efforts continue this year with the introduction of House Bill 154, the Prescription Drug Affordability Act.

Prescription drug companies are the only businesses in the health care industry whose rates are not regulated. It is time to hold them to the same standard as all other health care providers. The Affordability Board, known as a PDAB, would serve as an independent body with the authority to evaluate high cost drugs and set reasonable rates for consumers to pay.

I know how difficult paying for much-needed medication can be. In 1995, I was diagnosed with multiple sclerosis. In addition to managing a chronic condition, I face insurmountable prescription drugs costs. The main drug I take to manage my disease costs nearly $100,000 a year. I am fortunate to have insurance, but still my out-of-pocket costs are often $10,000 annually.

Something has to give. That is why AARP New Mexico is supporting HB 154, sponsored by Rep. Angelica Rubio and Sen. Jeff Steinborn, both D-Las Cruces. New Mexicans, like all Americans, should not be paying the highest prescription drug costs in the world.

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Categories: State News