New Drug Cost Poll Shows Top Concern for Voters is Lowering Out-of-Pocket Costs
Washington, D.C. (April 3, 2019) – As policymakers continue to examine ways to make prescription drugs more affordable, the Biotechnology Innovation Organization (BIO), in conjunction with Morning Consult, has released new polling data that show voters’ views on prescription drug costs. Results will be shared with Washington D.C. lawmakers this week as BIO hosts its annual fly-in on Capitol Hill.
Key takeaways from the poll include:
- 95% of voters say prescription drug coverage is an important insurance benefit for them, and 73% of those taking prescription drugs say it is easy to pay for their medicines every month.
- When it comes to concerns about drug costs, 46% of voters say its most important for policymakers to lower what people are required by insurers to pay out of pocket for medicines.
- Voters picked increased competition over price controls by a more than 2 to 1 margin when asked about the best way to lower drug costs for patients.
- 76% of voters support legislation that would cap or limit what seniors pay out of pocket for prescription drugs in Medicare Part D.
- A strong majority of voters (75%) believe it’s important for the U.S. to require other countries to raise their standards around intellectual property protections.
BIO’s President and CEO Jim Greenwood released the following statement on the new poll:
“When it comes to concerns about the cost of prescription drugs, the American people want policymakers to focus on lowering what patients have to pay out of pocket for the medicines they need. This new polling data also shows that voters are not willing to accept misguided schemes like price controls that would hurt future innovation and restrict patient access, but rather see more market-based competition as the best solution. And as policymakers consider adopting foreign price controls on America’s world-leading biopharmaceutical innovators, voters express clear support for efforts that require other countries to better protect the intellectual property of innovators.
“Beating up on the pharmaceutical industry might be good politics for some, but it won’t provide real relief to patients at the pharmacy counter. The American people want real change, and Congress should start by limiting what seniors pay out of pocket for drugs in Medicare. This commonsense solution enjoys overwhelming bipartisan support, and Congress owes it to seniors to act.”
To read more about the poll, click here.
These polls were conducted from March 25-27, 2019, among a national sample of 1,995 registered voters and March 27-29, 2019, among a national sample of 1,992 registered voters. The interviews were conducted online, and the data were weighted to approximate a target sample of Registered Voters based on age, race/ethnicity, gender, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 2 percentage points.
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.