April 21, 2024 11:35 pm
Biden talks about limiting certain drug prices

President Joe Biden recently addressed the issue of high drug costs in the United States during a discussion. He emphasized that while he considers himself a capitalist, he believes that some actions by drug companies amount to exploitation. In response to this, three companies have agreed to cap the price of asthma inhalers at $35, providing relief to Americans who rely on these medications. Senator Bernie Sanders, an independent from Vermont, also highlighted the need to tackle the high cost of prescription drugs and commended the efforts of the Biden administration and Democrats in Congress to push for lower drug prices.

The discussion coincided with the 10th anniversary of the Affordable Care Act (ACA), commonly known as Obamacare, which established government health care marketplaces for those without access to employer-sponsored plans. According to data from the Kaiser Family Foundation, the average annual health care premium for single coverage in 2023 was $8,435, while family coverage averaged $23,968. Premiums have increased by 22% for both types of coverage since 2018. During the most recent Open Enrollment Period, more than 21 million Americans either selected or were automatically re-enrolled in health insurance coverage through HealthCare.gov and state-based Marketplaces.

The ongoing efforts to address high drug costs and make health care more affordable for Americans are crucial priorities for the Biden administration and lawmakers in Congress. As they continue their work on this issue, it is important to remember that prescription drugs can be life-saving treatments for many people and should not be priced out of reach due to profit-driven motives. By working together and implementing policies that prioritize affordability and transparency in healthcare pricing, we can ensure that all Americans have access to quality healthcare services they need without breaking their bank accounts or compromising their health outcomes.

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