Most Americans support Medicare negotiation despite claims that it would harm innovation


Few Americans believe that negotiating drug prices will hurt competition and pharmaceutical innovation; Most want the government to play an important role in controlling costs. Credit: West Health-Gallup

A new one West Health / Gallup survey finds almost all Democrats (97%) and most Republicans (61%) support the federal government’s ability to negotiate lower prices for Medicare-covered prescription drugs. Overall, eight out of ten Americans prefer significant government action to control prices over concerns that affect innovation and competition in the pharmaceutical industry. The results come from a nationally representative survey of more than 3,700 American adults.

While President Joe Biden, Democrats in Congress and former President Donald Trump have called for this negotiation, Capitol Hill Republicans and the they have strongly opposed the measure, claiming that lower prices would harm competition and reduce innovation. However, this belief is not widely shared among the American people. According to the survey, less than 20% of all Americans believe that Medicare negotiation would harm innovation or market competition, including a minority of Republicans (39%).

“Americans do not buy the claim that is trying to reign it will stifle innovation and devastate the pharmaceutical industry, “said Tim Lash, director of strategy for West Health, a family of nonprofit and nonprofit organizations dedicated to reducing healthcare costs to enable successful aging.” These misleading arguments are intended to preserve benefits rather than protect them. patients. The time has come to finally allow Medicare negotiation. Americans are increasingly concerned that this will happen, even if pharmaceutical companies are not. “

If enacted, Medicare negotiation, as described in HR 3, is expected to save Elijah E. Cummings Act, which now reduces drug costs. , companies and workers hundreds of billions of dollars by 2030. According to a new analysis since West Health and its Council for the Informed Analysis of Drug Expenditure (CIDSA), private employers could also save $ 195 billion and workers could save $ 98 billion more. These savings add up to the loved ones $ 456 billion in federal direct spending savings planned by the Congressional Budget Office (CBO).

When choosing between the need for inside in setting prices and maintaining the status quo, 90% of Americans chose to support reforms, including 96% of Democrats, 88% of independents, and 83% of Republicans. There is also broad support for specific actions, including setting out-of-pocket spending limits for prescription drugs (87% strong or some support) and general health care (84%) on Medicare and limiting hospital spending for those with private insurance (83%) and allowing Medicare to negotiate drug prices for all Americans, not just Medicare beneficiaries, with the support of 70% of respondents.

“There is no doubt that there is substantial public support for more government action when it comes to addressing drug costs,” said Dan Witters, a senior Gallup researcher. “And while there are differences across the political spectrum, even among Republicans, the feeling for public action is substantial.”

Medicare negotiation could save companies $ 195 billion and workers $ 98 billion

Provided by West Health Institute

Citation: Most Americans support Medicare negotiation despite claims that it would harm innovation (2021, June 3), retrieved June 3, 2021 at -medicare.html

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