This Medicare Open Enrollment, Seniors Get Sold Out While Big Drug Companies Rake It In
As millions of seniors across the country prepare to enroll in Medicare coverage, Donald Trump is working behind the scenes to steal their Medicare savings to give handouts to big corporations, including Big Pharma. While big drug companies make record breaking sales, a record high 59 percent of Americans say they are struggling to afford their prescription drugs. Big Pharma’s pay-to-play multimillion-dollar investments at Mar-a-Lago are paying off. Instead of lowering drug prices for seniors, Trump is holding backroom deals with big drug companies and handing them blockbuster giveaways. Seniors are sick and tired of Trump betraying them and putting his billionaire donors first.
- Trump Sold Out Seniors With Cancer, Epilepsy, and Multiple Sclerosis to Pad Big Pharma’s Profits. In the so-called “One Big, Beautiful Bill,” Trump handed Big Pharma their biggest victory in years by signing an $8.8 billion bailout designed to carve out their top-selling products from Medicare drug price negotiation. Trump allowed drug companies to bypass Medicare drug price negotiations and raise prices on drugs that millions of vulnerable Americans rely on. This includes the most commonly prescribed cancer immunotherapy in the country, Keytruda, and a breakthrough treatment for multiple sclerosis, Kesimpta. Thanks to the GOP’s blockbuster giveaway, seniors with conditions from anemia to cancer to autoimmune diseases will be forced to pay thousands more out of pocket for their prescriptions while big drug companies rake in sales.
- Trump Made Secret Backroom Deals That Ensured Seniors Will Not See “Most Favored Nation” Price Savings on 90 Percent of the Branded Drug Market. Thanks to backroom deals Trump made with over two dozen of the biggest drugmakers, seniors will not see “most favored nation” pricing on the drugs that make up 90 percent of the branded drug market. Trump slashed expected savings from the program by 96 percent with his industry giveaways exempting all but three drugmakers from the program. While Trump claims to be bringing people “the lowest prices in the world,” the painful truth couldn’t be clearer: most seniors won’t save a penny from Trump’s dog-and-pony drug pricing show.
- Trump Hiked The Cost of Prescription Drug Coverage For Millions Of Seniors. After Trump ended a prescription drug coverage affordability program, millions of seniors were robbed of their $0 prescription drug coverage. Millions under specific plans will also face paying an additional $600 or more over the next year to keep the same prescription drug coverage. Seniors’ options for traditional Medicare prescription drug coverage continue to fall, forcing them into privatized Medicare Advantage plans that pad insurance companies’ profits.