There are two new pieces of legislation that could lower health care costs in the U.S.
Both pieces of legislation would decrease health care costs by lowering the price of prescription drugs.
The CREATES Act and FAST Generics Act are both under review by the Energy and Commerce Health Subcommittee.
The legislation is sponsored by U.S. Representative David B. Mckinley who represents West Virginia’s 1st District.
Mckinley said in a press release, both bills would open the door for competing drug makers to break into the market with cheaper prices for medication. Subsequently, offering patients increased access to generic drugs and lowering prescription drug prices overall.
In an interview with 7News, Mckinley said the high cost of prescription drugs doesn’t only affect consumers but hospitals and insurance companies as well.
“It’s driving up our insurance costs. Hospitals are struggling because they have to pay too much,“ said Mckinley.
Mckinley said there is other legislation in the works that would lower the price of prescription drugs for hospitals.