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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 govt actions, however the President has had nice success with Medicare.
Biden introduced in an announcement right now:
I consider that well being care needs to 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 12 months or extra in copays for the medicine they should keep alive. After I took on Massive 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 had been capped at about $3,500 in 2024, and in simply the primary six months of the 12 months, 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 at the moment are capped at $2,000 per 12 months. Consequently, 19 million individuals are anticipated to avoid wasting a mean of $400 every. That’s a recreation changer for the American folks.
My Inflation Discount Act has modified Medicare for the higher, and in consequence Individuals could 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 packages.
Republicans can’t lower Medicare in a reconciliation invoice, however one of many issues that Trump will 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 health insurance subsidies, and has made historic modifications to Medicare.
I believe that tens of millions of Individuals don’t know what they’re going to 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 folks could not admire it till it’s gone.
What do you concentrate on what Biden has completed on Medicare and healthcare? Share your ideas within the feedback under.
