Speaker Newt Gingrich Explains How Price Control Policies Would Harm Seniors
Former Speaker of the U.S. House of Representatives Newt Gingrich joined a Seniors Speak Out virtual event on March 24 to discuss harmful drug pricing policies and their implications on seniors’ healthcare.
Throughout the event, Speaker Gingrich emphasized that there are breakthrough treatments in the pipeline for serious illnesses like diabetes, Alzheimer’s, and Parkinson’s, but fears price control policies would jeopardize seniors’ chance of accessing these drugs in the future. Speaker Gingrich warned:
“I don’t want us to adopt a policy that leads us to mediocrity and that deprive senior citizens of the kind of breakthroughs that are going to improve the quality of their life, enable them to live independently, enable them to remain healthy for 10 or 15, or 20 years longer, because of all the new science that’s coming down the road. So it’s very important when somebody tells you that they’re going to involve price control. Remember, they’re telling you they’re going to have health controls because that price control will affect your health.”
Speaker Gingrich also stressed that lawmakers should abandon heavy-handed policy reforms in the Medicare Part D system that would disrupt its structure, potentially limiting the number of treatments available to beneficiaries. We also asked for his perspective on the chances of drug pricing legislation passing this year, policies allowing prescription drugs to be imported to the U.S., and more. Listen to his responses here.
Speaker Gingrich is not the only one concerned with price control policies. Our latest survey found that 91 percent of seniors are concerned these policies could limit the number of drugs and treatments available to patients, taking away choice and flexibility in treatment plans.
Other results from the survey include:
- 84 percent of respondents are concerned government price controls could devastate biopharmaceutical innovation and make it more difficult for patients to access advanced treatments for serious conditions like Alzheimer’s, heart disease, and diabetes.
- Nearly 41 percent of respondents want more transparency within the drug pricing system, and 31 percent want lawmakers to prioritize policies that would create caps on out-of-pocket drugs costs in Medicare Part D.
If price control policies concern you, contact your lawmaker and encourage them to abandon these policies and prioritize ones that would lower drug prices without disrupting access through Medicare.