US President Joe Biden talks about cutting healthcare costs in the East Office of the White House in Washington, D.C., Aug. 29, 2023.
Saul Loeb | AFP | Getty Images
WASHINGTON — President Joe Biden is prioritizing cutting personal health care costs as he seeks re-election in a country where health care costs a large share. 18.3% Percentage of the country’s gross domestic product, according to the Centers for Medicare and Medicaid Services.
“We’ve been fighting big pharma for a long time,” Biden said Tuesday from the White House. “I promise to support you. I will never stop fighting for you on this matter, and neither will Kamala.”
The White House on Tuesday announced 10 prescription drugs that will be subject to the first-ever Medicare price negotiations that go into effect in 2026. These 10 products accounted for $50.5 billion, or about 20%, of all Part D prescription drugs.cost June 1, 2022 through May 31, 2023, according to the Centers for Medicare and Medicaid Services.
“Big Pharma [is] “I think it’s outrageous to charge Americans more than three times what other countries charge just because they can,” Biden said. That is why this negotiation is so important. ”
Biden’s challenge over the next 14 months will be to convince voters that he is cutting the cost of everyday life for his people, despite high interest rates and inflation that has yet to return to pre-pandemic levels. .
The challenge is complicated by the fact that many of Biden’s legislative and policy outcomes take years to materialize and therefore have no immediate, measurable impact on people’s lives. Nevertheless, Democrats insist the president should be given a second term to “get the job done,” in Biden’s words.
Biden Harris 2024 election campaign manager Julie Chavez-Rodriguez said the news was “what it’s like to have results,” but plans could be canceled if Biden isn’t re-elected. warned of potential
“That progress all depends on 2024,” Chavez Rodriguez said in a statement. “The choice in this election is between a president who cares about you and a candidate who cares about extreme policies that put wealthy donors first.”
A message from the White House on Tuesday said that thanks to Biden, Americans would no longer have to pay the highest drug bills in the world.
“Big Pharma and Congress’ Republican Alliance finally lost to Joe Biden and Bidennomics,” Deputy Press Secretary Andrew Bates said in a memo.
Tuesday’s Medicare announcement, carefully staged with side events and media briefings, highlights just how important healthcare is to Biden’s already well-established re-election campaign.
Biden’s signature national law, the Controlled Inflation Act of 2022, capped Medicare subscribers’ insulin copayments to $35 a month and capped individual copayments for prescription drugs to $2,000 a year. In addition, the government has reduced the cost of hearing aids by making hearing aids available over-the-counter, and the Affordable Care Act has reduced insurance costs through tax subsidies.
All of this is part of Biden’s focus on addressing the so-called “table” issue that resonates with floating voters in swing states.
The president next said he planned to increase the insulin cost cap for privately insured Americans and make the ACA tax subsidy permanent.
“We are going to finish this issue,” Mr. Biden said. “We will continue to stand up to big pharma and will not back down.”
