President Biden and Sen. Bernie Sanders (I-Vt.) will journey to New Hampshire on Tuesday to talk on well being care financial savings achieved by means of the Biden administration’s insurance policies such because the estimated financial savings that resulted from the Medicare worth caps enacted by the Inflation Discount Act.
Based on a senior administration official, Biden and Sanders will go to Harmony, N.H. to debate the small print of a brand new HHS report that exhibits virtually 1.5 million Medicare beneficiaries saved roughly $1 billion due to the value caps on prescribed drugs in the course of the first half of 2024.
Biden and Sanders have partnered in latest months to talk out towards excessive drug prices. In July, they each penned an op-ed crucial of Novo Nordisk and Eli Lilly for the excessive price of their weight reduction merchandise Wegovy and Zepbound respectively.
“For many years there has been a lot of talk about the outrageous prices the American people are forced to pay for prescription drugs, but no action. The good news is that President Biden and Vice President Harris with the help of Democrats in Congress have acted to take on the unprecedented greed of the prescription drug industry,” Sanders stated in a press release.
“Thanks to these efforts, no senior is paying over $35 a month for insulin. Beginning next year, no senior in America will be paying over $2,000 a year for prescription drugs. And, for the first time in history, Medicare is negotiating to lower the prices of some of the most expensive prescription drugs in America,” he added.
A $35 month-to-month cap on insulin prices for Medicare beneficiaries went into impact at the beginning of 2023. Each Biden and Vice President Kamala Harris have spoken in favor of increasing this cover to incorporate everybody.
“Starting next year, with a new $2,000 cap, we’re expected to save 19 million seniors, and others on Medicare, an additional $7.4 billion in out-of-pocket costs. That’s real change, delivered,” White Home Home Coverage Advisor Neera Tanden stated in a press release.
“While Republicans continue to try to repeal the Inflation Reduction Act and thereby raise prescription drug costs for all seniors, the President and Vice President will never stop fighting to ensure that that no senior has to choose between life-saving prescriptions, or any other essentials, ever again,” stated Tanden.
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