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One of many missions of Biden’s presidency was to decrease prescription drug costs. Biden was blocked by Republicans in Congress and the courts on a few of his government actions, however the President has had nice success with Medicare.
Biden introduced in an announcement at this time:
I imagine that well being care must be a proper – not a privilege – and all through my presidency I’ve superior that purpose. This week, we take one other step nearer to an America the place everybody can afford the standard well being care they want, as Medicare’s new $2,000 cap on prescription drug prices from my Inflation Discount Act goes totally into impact.
Earlier than I took workplace, folks with Medicare who took costly medicine may face a crushing burden, paying $10,000 a yr or extra in copays for the medicine they should keep alive. After I took on Large Pharma and received, we modified that, capping seniors’ out-of-pocket spending on medicine they get on the pharmacy for the primary time ever. Prices have been capped at about $3,500 in 2024, and in simply the primary six months of the yr, this coverage saved folks with Medicare $1 billion in cost-sharing. On January 1, 2025, the cap on drug prices totally phases in, and prices are actually capped at $2,000 per yr. Consequently, 19 million persons are anticipated to avoid wasting a mean of $400 every. That’s a sport changer for the American folks.
My Inflation Discount Act has modified Medicare for the higher, and in consequence People can have more cash again of their pockets within the years to come back.
One of many prime targets for Trump and his celebration to assist pay for his or her deliberate tax cuts for the rich and largest firms is cuts to healthcare, particularly Medicaid and veterans applications.
Republicans can’t lower Medicare in a reconciliation invoice, however one of many issues that Trump might be counted on to do is to roll again the progress that Biden has made in decreasing prices for America’s seniors.
For the previous 4 years, Biden has handled healthcare with no consideration each American deserves entry to. Biden expanded the ACA and Medicaid, elevated medical insurance subsidies, and has made historic adjustments to Medicare.
I believe that thousands and thousands of People do not know what they will be dropping when the following administration takes workplace.
Biden did good issues for those who will assist them, because the President mentioned, for years to come back, and other people could not respect it till it’s gone.
What do you consider what Biden has performed on Medicare and healthcare? Share your ideas within the feedback beneath.
