As midterm elections approach, there's one move Congress could make to help combat inflation: tackling rising prescription drug costs.
If consumer prices rose as much as prescription drug prices over the years, a gallon of gas would cost around $12.20 today, based on AARP's calculations, Sweeney said.
That included giving the government the authority to negotiate prescription drug prices, putting constraints on drug prices that rise faster than inflation, helping to reduce the cost of insulin and putting an out-of-pocket cap on how much people on Medicare pay for prescription drugs.
The issue is particularly salient for people covered by Medicare this year, due to above average Part B premium increases driven by the cost of an Alzheimer's drug, Aduhelm.to $170.10 in 2022. Those premiums are typically deducted directly from Social Security checks.
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