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 value 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 main points of a brand new HHS report that reveals virtually 1.5 million Medicare beneficiaries saved roughly $1 billion because of the worth caps on pharmaceuticals through the first half of 2024.
Biden and Sanders have partnered in latest months to talk out in opposition to excessive drug prices. In July, they each penned an op-ed vital 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 mentioned in an announcement.
“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 first 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 mentioned in an announcement.
“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,” mentioned Tanden.
