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Janel Knight Trulear 
janel@emccommunications.com
(617) 875-6581

STATEMENT: Small business group welcomes next cycle of Medicare prescription drug negotiations

Statement by Small Business for America's Future Co-Chair Dr. Erika Gonzalez, CEO, President, & Co-Founder of South Texas Allergy and Asthma Medical Professionals (STAAMP) and STAAMP Clinical Research, on HHS and CMS's announcement of the next round of prescription drugs up for Medicare negotiations

Jan. 17, 2025– "The Centers for Medicare & Medicaid Services announcement of the 15 prescription drugs selected for the second cycle of price negotiations marks a needed step in addressing one of the top financial pressures facing small businesses today–the rising cost of health care. These negotiations are important for small business owners who face ever-increasing health insurance premiums driven by high prescription drug costs, which directly impact their ability to grow their businesses, hire workers, and stay competitive in the marketplace.

"For too long, small business owners have struggled with the overwhelming burden of prescription drug costs that force difficult choices between providing healthcare coverage and investing in business growth. A SBAF survey showed bipartisan agreement that prescription drug prices are too high with 94% of small business owners saying it needs to be changed and more than half saying the marketplace needs an overhaul.

"Medicare drug price negotiations are creating an avenue to drive transparency in drug pricing that can lead to more affordable healthcare for small businesses and their employees. As Medicare secures better prices for prescription drugs, it puts downward pressure on costs throughout the healthcare system. The first cycle of negotiations are expected to lower out-of-pocket costs by $1.5 billion in 2026. The selected drugs in the second cycle of negotiations account for $40.7 billion in prescription drug costs. This is exactly the kind of action small business owners have been asking for to address healthcare costs.

"While this represents progress, the work to lower overall healthcare costs must continue. We encourage policymakers to build on this momentum and implement additional measures that will extend these cost-saving benefits throughout the healthcare system."

To request an interview with Small Business for America's Future Co-Chair Dr. Erika Gonzalez, contact Janel Knight Trulear at (617) 875-6581 or janel@emccommunications.com.

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Small Business for America's Future Small Business for America's Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We're committed to ensuring policymakers prioritize the nation's 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.