Survey Shows a Majority of Seniors Oppose Government Drug Price Setting 

COMMENTARY

As Congress and the new Trump administration gear up for important health care policy debates, it’s essential they listen to the voices of those who rely most on government-funded health programs: America’s seniors. 

The 2024 Senior Satisfaction Survey paints a clear picture of the concerns of older Americans when it comes to access to the medicines they depend on. They are increasingly anxious about the potential impact of government drug price setting introduced by the Inflation Reduction Act and overwhelmingly support lawmakers who stand against those policy schemes.  

This year’s survey reaffirms what we have consistently seen in years past — seniors are highly satisfied (89%) with their Medicare Part D prescription drug coverage. This can be traced to the program’s decades of success in delivering affordable and accessible medications to millions of older Americans. However, since the passage of the IRA, there has been increasing skepticism among beneficiaries regarding the government’s role in arbitrarily setting prices instead of allowing the market to manage Part D costs, as it has successfully done in the past.  

The findings revealed high levels of uneasiness about the potential effects of government price setting on seniors’ access to treatment choices. Most of those polled (83%) are concerned that government price setting will restrict access to their current medicines. A similar share (82%) believe that price controls could reduce their options for prescription drugs, and 80% fear that these policies would place the government between them and their doctors when it comes to deciding which medications are best for their health. 

These fears are not unfounded; they are based on the real threat that price controls could lead to fewer treatment options and delays in receiving the newest, most innovative drugs. Not to mention, they could restrict access to the treatments and medicines seniors are taking regularly. Older Americans value their ability to work with their doctors to choose the best treatments.

They don’t want bureaucrats in Washington making decisions about their medications.  

Most recently, the Centers for Medicare & Medicaid Services unveiled the results of the IRA drug price negotiations. Despite the Biden-Harris administration celebrating the program as a victory, the reality is shaping up far differently. CMS set the prices based on an opaque, unilateral process that gave far too little weight to the input of patients and caregivers. 

In fact, new data are already emerging showing that out-of-pocket patient costs will likely go up for millions of beneficiaries taking price-set medicines while access to treatment choices could be restricted. Despite these mounting concerns, the administration continues to double down on its intent to expand this approach in the future, regardless of the potential chilling effect on innovation and the disruption it causes to the Part D program. 

Fortunately, the survey highlights several policies seniors support, like capping out-of-pocket expenses, reducing monthly costs by spreading payments over time, and increasing transparency around what drugs are covered by Part D plans. These commonsense reforms can help seniors without threatening their access to lifesaving treatments.  

The message from seniors is clear: price-setting policies that threaten their freedom to choose the best treatments for their health are not the answer.  

As new members of Congress and the new administration pursue their health care policy proposals, this serves as an important opportunity to listen to seniors and protect the integrity of the Medicare program by supporting reforms that enhance access and affordability without compromising quality or innovation. They have earned that right.  

Maria Ghazal serves as president and CEO of the Healthcare Leadership Council, the leading health care industry association representing all segments of American health care. She can be reached on X.