Under current law, Medicare is unable to use its significant purchasing power to bargain down prescription drug prices for seniors - unlike agencies like the Veterans Administration, which pays 40% less for prescription drugs than Medicare, according to a 2011 study published in the journal Health Economics.
Allowing Medicare to bargain prices down could save the program $24 billion a year, according to the National Committee to Preserve Social Security and Medicare. It will save seniors money on prescriptions, spend taxpayer dollars more efficiently, and put Medicare on a more sound fiscal footing.
If we are serious about fixing the budget and reforming Medicare, then there is no good reason not to do this. Please take action immediately.