The Alliance for Retired Americans (“ARA”) just released a poll showing that older adults so want affordable prescription drugs that they say they would switch political parties to support a candidate who favors Medicare drug price negotiation. Congressional candidates should beware!
The ARA found that more than seven in ten voters over 65 say they would be more inclined to support candidates, regardless of their political party affiliation, who want to bring down drug prices for people with Medicare. Indeed, lower prescription drug prices is a policy issue that motivates people less likely to vote to go out and vote.
Older adults like Medicare a lot, with 86 percent, overall, having “a favorable impression.” (91 percent of Dems and 85 percent of Reps.) But, they are unhappy with the amount they need to pay for their prescriptions. The Medicare Part D benefit has high out-of-pocket costs for anyone taking costly medicines, and it has no out-of-pocket cap.
Prescription drugs are increasingly unaffordable for older adults. Yet, they often need these drugs to stay alive. An NBER study earlier this year found that a $10.40 increase in copays for Part D drugs led 20 percent of people to stop taking all their medicines. It further found that thousands of people die each year of stroke or heart attack because they stop taking their prescriptions.
Nearly nine in ten people with Medicare support Medicare drug price negotiation. Democrats and Republicans are strongly aligned on this issue, with 89 percent of Democrats supporting it and 87 percent of Republicans. About half of voters strongly support this policy.
Politicians should take heed. Older adults vote. In fact, three out of four older adults voted in the 2020 election, proportionally more than any other age cohort. They represent more than 25 percent of all votes cast.
In addition, most older voters want Congress to take the Medicare dollars saved from drug price negotiation and put them towards additional Medicare benefits.
Here’s more from Just Care:
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