Prescription Drug Affordability Boards

In the United States, where prescription drug prices are the highest in the world, we all bear the cost of expensive medications. Whether at the pharmacy counter, through insurance premiums, or our taxpayer dollars, every American is impacted by these skyrocketing costs. Unfortunately, drug corporations continue to demonstrate that they put profits over patients, hiking the prices of over 1000 medications in 2024 alone, often above the rate of inflation. This disregard for patient well-being has devastating impacts on our health and financial well-being.

While we are all hurt by the high cost of prescription drugs, Black Americans are faced with additional burdens due to persisting racial health inequities. Social, political, and economic conditions result in Black Americans being more likely to suffer from chronic conditions like high blood pressure and diabetes, both of which require expensive prescription medications. Currently, Black and Latino adults 65 and older are up to twice as likely to report difficulty affording their medications than their White counterparts.

Thankfully, states can address concerns by establishing a Prescription Drug Affordability Board, providing a policy solution that considers all members of a crowded and complicated supply chain, ensuring cost savings reach consumers. We need PDABs with the authority to determine fair, affordable rates for expensive prescription drugs– this will help to alleviate some of the financial burdens on our most disenfranchised residents and ultimately improve health equity.