{"id":1374,"date":"2024-08-15T22:29:31","date_gmt":"2024-08-15T22:29:31","guid":{"rendered":"https:\/\/america-project.org\/?p=1374"},"modified":"2024-08-19T10:51:31","modified_gmt":"2024-08-19T10:51:31","slug":"white-house-strikes-landmark-deal-to-cut-drug-costs","status":"publish","type":"post","link":"https:\/\/america-project.org\/index.php\/2024\/08\/15\/white-house-strikes-landmark-deal-to-cut-drug-costs\/","title":{"rendered":"White House Strikes Landmark Deal to Cut Drug Costs"},"content":{"rendered":"<p><span class=\"section-lead\">On Thursday,<\/span> the Biden administration announced that\u2014after months of negotiations\u2014it had finally struck a deal with prescription drug companies to slash the prices of some of Medicare\u2019s most expensive medications, prescriptions for which currently cost the federal government <a href=\"https:\/\/www.hhs.gov\/about\/news\/2024\/08\/15\/historic-first-biden-harris-administration-successfully-negotiates-medicare-drug-prices-delivers-promise-lower-prescription-drug-costs-american-seniors.html\">some<\/a> $56 billion last year.<\/p>\n<p>\u201cIt\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\u2014and it\u2019s a relief for American taxpayers,\u201d President Biden said in a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/08\/15\/statement-from-president-joe-biden-on-lower-prescription-drug-prices\/\">statement<\/a>.<\/p>\n<p>\u201cKamala and I both get it. We know it isn\u2019t just about health care,\u201d he <a href=\"https:\/\/www.cbsnews.com\/news\/biden-harris-prescription-drug-prices\/\">added<\/a>, appearing alongside Vice President Kamala Harris for their first joint event since she gained the Democratic presidential nomination. \u201cIt\u2019s about your dignity.\u201d<\/p>\n<p>Starting in 2026, ten prescriptions for ailments ranging from diabetes to blood cancer will have their costs drastically lowered\u2014by up to 79 percent of their manufacturers\u2019 list price. These cuts will save taxpayers $6 billion and seniors and beneficiaries alone more than $1.5 billion, <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/08\/15\/fact-sheet-biden-harris-administration-announces-new-lower-prices-for-first-ten-drugs-selected-for-medicare-price-negotiation-to-lower-costs-for-millions-of-americans\/\">according<\/a> to the Center for Medicare and Medicaid Services.<\/p>\n<p>The action was reportedly made <a href=\"https:\/\/www.cms.gov\/files\/document\/fact-sheet-negotiated-prices-initial-price-applicability-year-2026.pdf\">possible<\/a> by the 2022 passage of the Inflation Reduction Act, which opened the door for changes to Medicare with the aim of \u201cexpanding benefits, lowering drug costs, and improving sustainability.\u201d The deal is only phase one of the administration\u2019s plan to make Medicare more affordable: The Department of Health and Human Services\u00a0will be <a href=\"https:\/\/www.hhs.gov\/about\/news\/2024\/08\/15\/historic-first-biden-harris-administration-successfully-negotiates-medicare-drug-prices-delivers-promise-lower-prescription-drug-costs-american-seniors.html\">allowed<\/a> to select another set of 15 drugs for price negotiations next year.<\/p>\n<p>Author: Arianna Coghill<\/p>\n<p>Source: https:\/\/www.motherjones.com\/politics\/2024\/08\/biden-white-house-medicare-drug-price-deal-health-care\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Thursday, the Biden administration announced that\u2014after months of negotiations\u2014it had finally struck a deal with prescription drug companies to slash the prices of some of Medicare\u2019s most expensive medications, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government"],"_wp_page_template":null,"_form":null,"_mail":null,"_mail_2":null,"_messages":null,"_additional_settings":null,"_locale":null,"_hash":null,"_wp_attached_file":null,"_wp_attachment_metadata":null,"_menu_item_type":null,"_menu_item_menu_item_parent":null,"_menu_item_object_id":null,"_menu_item_object":null,"_menu_item_target":null,"_menu_item_classes":null,"_menu_item_xfn":null,"_menu_item_url":null,"_wp_attachment_context":null,"_thumbnail_id":"1423","newscrunch_views":"281","_yoast_wpseo_primary_category":"5","_yoast_wpseo_schema_article_type":null,"_wp_attachment_is_custom_background":null,"_wp_desired_post_slug":null,"_customize_restore_dismissed":null,"_edit_last":"1","_edit_lock":"1724064697:1","newscrunch_site_layout":"","newscrunch_page_sidebar":"sidebar-1","newscrunch_page_left_sidebar":"left-sidebar","_wp_trash_meta_status":null,"_wp_trash_meta_time":null,"newscrunch_post_video_embed":"","_custom_header_image_id":"","_yoast_wpseo_estimated-reading-time-minutes":"2","yoast_head":"<!-- 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