{"id":1039030,"date":"2024-08-15T15:46:45","date_gmt":"2024-08-15T19:46:45","guid":{"rendered":"https:\/\/democrats.org\/?p=1039030"},"modified":"2024-08-15T15:46:46","modified_gmt":"2024-08-15T19:46:46","slug":"new-biden-harris-administration-takes-historic-action-to-make-life-saving-medication-more-affordable-thanks-to-the-inflation-reduction-act","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-biden-harris-administration-takes-historic-action-to-make-life-saving-medication-more-affordable-thanks-to-the-inflation-reduction-act\/","title":{"rendered":"NEW: Biden-Harris Administration Takes Historic Action to Make Life-Saving Medication More Affordable Thanks to the Inflation Reduction Act"},"content":{"rendered":"\n

Today, as the Biden-Harris administration takes historic action to make drugs treating cancer, diabetes, heart disease, and blood clots more affordable thanks to the Inflation Reduction Act, <\/em>DNC National Press Secretary \u2068Emilia Rowland\u2069 released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cMillions of seniors and others on Medicare will soon see a decrease in the cost of many of the most common and expensive prescription medications for heart disease, cancer, diabetes, blood clots, and more. This was made possible by the Biden-Harris administration\u2019s historic Inflation Reduction Act, which was signed into law two years ago this week. As a result, countless seniors across America will no longer have to choose between paying for their medication and keeping up with the bills. While Donald Trump, JD Vance, and MAGA Republicans cozy up to greedy Big Pharma execs, the Biden-Harris administration took on Big Pharma and won<\/em> \u2014 and as president, Vice President Harris will work to ensure every American can retire with dignity, protect Medicare and Social Security against MAGA attacks, and make health care affordable and accessible for all.\u201d<\/p>\n\n\n\n

NEW: Thanks to the Biden-Harris administration and the Inflation Reduction Act, medications for treating cancer, diabetes, heart disease, and blood clots will become much more affordable for millions of seniors. <\/strong><\/p>\n\n\n\n

White House Fact Sheet<\/a>: \u201cPresident Biden and Vice President Harris took on Big Pharma and won, and now millions of seniors and others on Medicare will soon see their drug costs go down on some of the most common and expensive prescription drugs that treat heart disease, cancer, diabetes, blood clots, and more.<\/strong><\/p>\n\n\n\n

\u201c[The United States Department of Health and Human Services] has reached agreements with all participating manufacturers on new negotiated, lower drug prices for the first 10 drugs selected for the Medicare drug price negotiation program. After manufacturers have steadily increased the list prices of all 10 of these drugs since they went on the market, these new prices will cut the list price of these drugs between 38 and 79 percent.\u201d<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cBiden admin announces results of historic Medicare drug price negotiations that will save $6B\u201d<\/strong><\/p>\n\n\n\n

\u201cMedicare’s new power to negotiate drug prices will lead to an estimated $6 billion in savings for the federal government and a $1.5 billion reduction in out-of-pocket costs for seniors when the lower prices take effect in 2026, the Biden administration announced Thursday.<\/p>\n\n\n\n

[…]<\/p>\n\n\n\n

\u201c\u2018It\u2019s a relief for the millions of seniors that take these drugs to treat everything from heart failure, blood clots, diabetes, arthritis, Crohn\u2019s disease, and more \u2013 and it\u2019s a relief for American taxpayers,\u2019 Biden said in a statement.\u201d<\/strong><\/p>\n\n\n\n

NBC<\/a>: \u201cThe Biden administration said Thursday that it had reached an agreement with drugmakers to lower prices on the 10 costliest prescription drugs under Medicare. <\/strong>It’s part of the federal government’s first-ever drug pricing negotiations, a cost reduction it claims could help ease the financial burden on the estimated 1 in 7 older adults in the U.S. struggling to pay for their medications.<\/strong>\u201d<\/strong><\/p>\n\n\n\n

President Biden\u2019s Inflation Reduction Act requires <\/strong>pharmaceutical companies to rebate Medicare for price hikes that exceed inflation, caps seniors\u2019 out-of-pocket costs for insulin at $35 per month, and makes adult vaccines available to Medicare enrollees at no cost. <\/strong><\/p>\n\n\n\n

NBC News<\/a>: \u201cMajor drug companies including Johnson & Johnson, Merck and Bristol Myers Squibb have committed to participate in Medicare drug price negotiations with the federal government, the Biden administration said Tuesday. \u2026 The Centers for Medicare and Medicaid Services named the first 10 prescription drugs subject to price negotiations under the Inflation Reduction Act a little over a month ago.\u201d
<\/p>\n\n\n\n

Axios<\/a>: \u201cThe Biden administration is set to announce the first batch of prescription drugs that will be subject to new price negotiations with Medicare, kicking off formal discussions with drugmakers who are fiercely challenging the effort.\u201d<\/p>\n\n\n\n

Kaiser Family Foundation<\/a>: \u201cThe Inflation Reduction Act requires drug manufacturers to pay a rebate to the federal government if prices for single-source drugs and biologicals covered under Medicare Part B and nearly all covered drugs under Part D increase faster than the rate of inflation (CPI-U).\u201d<\/p>\n\n\n\n

Kaiser Family Foundation<\/a>: \u201cThe Inflation Reduction Act limits monthly cost sharing for insulin products to no more than $35 for Medicare beneficiaries.\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cMedicare enrollees can now get additional vaccines at no cost, thanks to the Inflation Reduction Act. Before this year, vaccines for Covid-19, the flu, pneumonia and hepatitis B, for higher risk patients, were covered by Medicare Part B with no cost sharing. Now, all adult vaccines covered by Medicare Part D that are recommended by a federal advisory committee on immunization are available to enrollees at no cost.\u201d <\/p>\n\n\n\n

Health.com<\/a>: \u201c[The Inflation Reduction Act] caps Medicare beneficiaries\u2019 out-of-pocket spending under the Medicare Part D benefit, first by eliminating coinsurance above the catastrophic threshold in 2024 and then by adding a $2,000 cap on spending in 2025.\u201d <\/p>\n\n\n\n

Trump has opened the door to cutting Social Security and Medicare if reelected, after proposing cuts to Social Security in his budget every year he was president.<\/strong><\/p>\n\n\n\n

Joe Kernen, CNBC<\/a>: \u201cHave you changed your outlook on how to handle entitlements, Social Security, Medicare, Medicaid?\u201d<\/p>\n\n\n\n

Trump: \u201cSo first of all, there is a lot you can do in terms of entitlements, in terms of cutting.\u201d<\/strong><\/p>\n\n\n\n

Vox<\/a>: \u201cTrump just opened the door to Social Security cuts. Take him seriously.\u201d<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cTrump Floats \u2018Cutting\u2019 Spending On Entitlements Like Social Security And Medicare\u201d<\/strong><\/p>\n\n\n\n

Rolling Stone<\/a>: \u201cTrump Floats Cuts to Social Security and Medicare\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cTrump now says he\u2019s open to entitlement cuts, including Medicare\u201d<\/strong><\/p>\n\n\n\n

\u201cThe administration\u2019s fiscal 2020 budget proposed cuts to Medicare and Social Security.\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cFormer President Donald Trump once backed raising the retirement age to 70 and called for privatizing Social Security which he called a \u2018Ponzi scheme\u2019<\/strong><\/p>\n\n\n\n

\u201c\u2018We can also raise the age for receipt of full Social Security benefits to seventy,\u2019 he wrote.\u201d<\/p>\n\n\n\n

Mediaite<\/a>: \u201cDuring a Fox News town hall, President Donald Trump promised to cut entitlements like Medicare and Social Security if he were to win a second term.<\/strong> \u2026 \u2018But if you don\u2019t cut something in entitlements, you will never really deal with the debt,\u2019 town hall co-moderator Martha MacCallum interjected, alluding to social safety programs like Medicare, Medicaid, and Social Security. \u2018Oh, we\u2019ll be cutting,\u2019 Trump rushed to confirm.\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cHis avowed stance, however, is at odds with Trump\u2019s own record as president: Each of his White House budget proposals included cuts to Social Security and Medicare programs.\u201d<\/strong><\/p>\n\n\n\n

Vox<\/a>: \u201cTrump said he wouldn\u2019t cut Medicaid, Social Security, and Medicare. His 2020 budget cuts all 3.\u201d<\/strong><\/p>\n\n\n\n

Trump\u2019s FY18<\/a>, FY19<\/a>, FY20<\/a>, and FY21<\/a> budgets each proposed billions of dollars in cuts to Social Security programs.<\/p>\n\n\n\n

A House Republican Study Committee Budget Plan earlier this year included proposals to drastically cut Medicaid and Medicare funding, directly affecting millions of seniors\u2019 access to health care benefits INCLUDING life-saving prescription drugs. <\/strong><\/p>\n\n\n\n

Fox Business<\/a>: \u201c<\/strong>The House Republican Budget Chair once again called for cuts to Social Security, Medicare, Medicaid, and the ACA, saying it is \u201cinevitable\u201d that they will be on his chopping block.\u201d<\/strong><\/p>\n\n\n\n

Georgetown University McCourt School of Public Policy<\/a>: \u201cLatest House Republican Study Committee Budget Plan Again Includes Draconian Medicaid Cuts\u201d<\/strong><\/p>\n\n\n\n

Protect Our Care Fact Sheet<\/a>: \u201cRepublicans Propose Budget That Will Raise Health Care Costs and Rip Coverage Away from Millions of Americans\u201d<\/p>\n\n\n\n

White House Fact Sheet<\/a>: \u201cOn Wednesday, the Republican Study Committee \u2013 which represents 100% of House Republican leadership and nearly 80% of their members \u2013 just proposed yet another budget that would cut Medicare, Social Security, and the Affordable Care Act, as well as increase prescription drug, energy, and housing costs \u2013 all while forcing tax giveaways for the very rich onto the country. Their plan would even raise the Social Security retirement age.<\/strong>\u201d<\/p>\n\n\n\n

White House Fact Sheet<\/a>: \u201cThe Republican Budget would side with Big Pharma to increase drug prices and seniors\u2019 out-of-pocket costs by repealing the Inflation Reduction Act.<\/strong><\/p>\n\n\n\n

\u201cMedicare would no longer be able to negotiate lower drug prices. Big Pharma would once again be allowed to set whatever price they want, leaving seniors and taxpayers on the hook and facing higher prices.<\/strong><\/p>\n\n\n\n

\u201cBig Pharma would no longer pay Medicare back when they increase drug prices faster than inflation, allowing them to jack up prices with no accountability.<\/p>\n\n\n\n

\u201cSeniors would go back to paying up to $400 for insulin, instead of the $35 price cap per monthly insulin prescription they have today.<\/strong>\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Today, as the Biden-Harris administration takes historic action to make drugs treating cancer, diabetes, heart disease, and blood clots more affordable thanks to the Inflation Reduction Act, DNC National Press Secretary \u2068Emilia Rowland\u2069 released the following statement: \u201cMillions of seniors and others on Medicare will soon see a decrease in the cost of many of […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1039030","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW: Biden-Harris Administration Takes Historic Action to Make Life-Saving Medication More Affordable Thanks to the Inflation Reduction Act - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-biden-harris-administration-takes-historic-action-to-make-life-saving-medication-more-affordable-thanks-to-the-inflation-reduction-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-15T19:46:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-15T19:46:46+00:00\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-biden-harris-administration-takes-historic-action-to-make-life-saving-medication-more-affordable-thanks-to-the-inflation-reduction-act\/\",\"url\":\"https:\/\/democrats.org\/news\/new-biden-harris-administration-takes-historic-action-to-make-life-saving-medication-more-affordable-thanks-to-the-inflation-reduction-act\/\",\"name\":\"NEW: Biden-Harris Administration Takes Historic Action to Make Life-Saving Medication More Affordable Thanks to the Inflation Reduction Act - 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