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Biden 'intensely' focused on continuing to lower drug costs [1]

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Date: 2023-03-15  

The speech was previewed by a press call with administration officials Tuesday discussing what the administration has done so far to lower health care costs, as well as the actions it will be taking in rolling out provisions of last year’s Inflation Reduction Act.

The Medicare drug savings provision in the law will provide big savings, Susan Rice, the White House Domestic Policy Adviser, told reporters. According to a new report from the Department of Health and Human Services (HHS), “3.4 million people with Medicare would have saved an average of nearly $70 per person in 2021 had the Inflation Reduction Act already been in effect.” For Medicare enrollees as a whole, that’s “over $230 million in savings on recommended vaccines, like the shingles and tetanus vaccines.”

“These kind of savings will give people a little bit more breathing room, more comfort as they decide to go to the grocery store to buy their food, more ability to pay their rent, or maybe it’s just to do something decent for their families,” HHS Secretary Xavier Becerra told reporters.

Biden had a nice boost to his message on Tuesday when Novo Nordisk announced it would follow Eli Lilly in lowering the cost some of its insulin products by as much as 75% beginning the first of next year, including reducing the cost of some products, like Humalog, by 70% this year.

You can watch Biden’s full speech here:

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[1] Url: https://www.dailykos.com/stories/2023/3/15/2158435/-Biden-intensely-focused-on-continuing-to-lower-drug-costs

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