State Budget Will Bring Rx Drug Price Relief
New York State Senator Frank Padavan (Queens) announced today that the 2008-09 State Budget includes the creation of new prescription drug discount card program to help New Yorkers face the burden of soaring prescription drug prices.
“Soaring prescription drug prices places a strain on countless family and individual budgets throughout New York,” Padavan said. “Far too many New Yorkers are left to decide between paying for essential prescription drugs or paying for other items in their monthly budget. Through this program, those in need will be able to find significant savings and help when paying for their prescription drugs.”
The program, to be launched later this year, will allow individuals and married couples between the ages of 50 and 64 to receive substantial discounts on their prescription drugs. All potential enrollees in the program will be subjected to the similar income requirements under the state’s EPIC program (up to $30,000 for individuals, up to $50,000 for married couples). Disabled individuals can participate in the program regardless of age.
The new program will offer an average of a 30 percent discount on name brand pharmaceutical drugs and an average of 60 percent off generic drugs. It is expected that over 400,000 New Yorkers will be enrolled in the program when fully enacted.
“This discount drug program is a major step in the right direction in restoring affordability in the prescription drug market in New York,” Padavan concluded.