Lawmakers in Michigan have introduced a package of bills designed to lower costs and expand healthcare access.
Senate Bill 3 would create a Prescription Drug Affordability Board, made up of experts in economics, healthcare, supply chain management and academia, with no ties to the pharmaceutical industry. Their aim would be to cut costs and protect people’s health and finances, by keeping prescription drug prices fair and transparent.
Senator Sue Shink, a Democrat from Northfield Township, is a co-sponsor of the legislation.
“When I talk to people across my district — and I spend a lot of time going door to door talking to people asking them what’s important to them, what kind of issues are they facing — being able to afford health care is the most common question I get,” Shink said.
Research shows more than 100 brand name drugs won’t have a money-saving generic available any time soon, and for some, not even for another five years. Meanwhile, prescription drug spending in the U.S. has already topped $603 billion, rising 16% between 2016 and 2021.
Shink says this proposal would help hold pharmaceutical companies accountable. As far back as 2017, it’s estimated about one third of Michigan residents ages 19 to 64 stopped taking their medications as prescribed because of cost concerns.
