Saturday, April 16, 2022

Biden’s call-to-action on drug pricing draws applause, but reform is far from certain out of a deadlocked Congress


President Joe Biden’s remarks on drug pricing during his first State of the Union address struck the right tone and drew a standing ovation. But the message rang hollow to many considering Biden’s $1.8 trillion American Families Plan includes no major proposals on the issue.

“Let’s give Medicare the power to save hundreds of billions of dollars by negotiating lower drug prescription prices,” Biden said. “It won’t just help people on Medicare. It will lower prescription drug costs for everyone.”

Cue the applause.

But Biden’s actions fall short of those energizing words. The only provision in Biden’s American Families Plan that deals with healthcare is $200 billion earmarked for subsidies to those who purchase their own health insurance. 

By not including drug pricing reforms in his American Families Plan, Biden is leaving the contentious issue up to a bitterly divided Congress, where action is far from certain. Still, some drug pricing advocates are holding out hope.

RELATED: As Trump, Biden face off, could drug pricing reforms await? Experts are split, but pharma is watching closely

Like other politicians, Biden campaigned on lowering drug prices. Now, he’s facing opposition from within his party for failing to take meaningful policy action. 

Sen. Bernie Sanders (I-Vt.) and Rep. Pramila Jayapal (D-Wash.) lead a contingent in Congress who are urging the administration to include healthcare reform in the plan.

Over the last week, Biden received separate written appeals from 17 senators and more than 80 House representatives to drop the age for Medicare eligibility from 65, expand the services covered by Medicare and allow the government to negotiate drug prescription prices.

RELATED: Senate contests will play major role in potential drug pricing reforms: analys

During his election campaign, Biden used healthcare reform to gain support and draw a clear line of demarcation between his platform and that of then-President Trump. Biden promised to push a public health-insurance option and to cut Medicare eligibility to age 60.   

“The president has been very, very clear that he remains fully committed to negotiations to reduce prescription drug prices––that, you will hear him reiterate as a very top priority and something he deems urgent,” an unnamed White House official told CNBC.  

But reforms, while long a popular political cause, haven’t gained momentum in Washington over the last several years. Despite his words, Biden’s policy proposal on Wednesday indicates that drug pricing and other industry reforms are far from becoming reality.





Source link

Latest Articles

Widely used chemical linked to 1,00,000 US deaths per year: Study

NEW YORK: Daily exposure to phthalates, a group of chemicals used in everything from plastic containers to makeup, may lead to approximately 100,000 deaths...

Foods to Reduce Inflammation and Strengthen the Immune System

Did you know that you can greatly reduce inflammation and boost your immune system by simply incorporating more anti-inflammatory foods and beverages into your...

Personal Selling

INTRODUCTION Early sellers and traders were not held in high esteem. The Roman word for salesman meant ‘Cheater’ and...

Building Muscle on a Vegan Diet

There are a lot of  misconceptions surrounding veganism. The notion that those who practice it are lacking in protein and therefore muscles is the...

Electrodes in brain new hope for severe cases of epilepsy

Neurosurgeons at All India Institute of Medical Sciences have devised a new technique for operating on children suffering from a severe form of epilepsy...