President Biden has a plan to use Medicare to create competition to lower the cost of prescription drugs.
Video of President Biden:
So much for Republicans claiming Biden is a socialist. The President announces a plan to use Medicare to create competition in the market to lower prescription drug prices. pic.twitter.com/D9M5kyEtDA
— Sarah Reese Jones (@PoliticusSarah) August 12, 2021
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The President said:
There has long been talk about giving Medicare the power to negotiate lower drug prices. Medicare takes care of millions of people. My plan will allow that. Every other type of healthcare service from how much a doctor can charge for a visit, hospital visits, crutches, wheelchairs, Medicare is allowed to say we will pay no more. As I’ve said before, the only thing Medicare is not allowed to negotiate our prices for prescription drugs. My plan gets rid of that prohibition. The proposal I made while running for president is Medicare should negotiate drug prices across the board.Â
Congresses currently debating letting Medicare negotiate some of the most expensive drugs, particularly from those companies that do not face competitionfor that drug. We are going to provide that competitionthrough Medicare. Medicare will negotiate a fair price. Right now drug companies will set a price at whatever the market will bear.Â
Biden Urges Congress To Congress To Act On Lowering Prescription Drug Prices.
A “socialist” doesn’t build his plan to lower prescription drug prices around encouraging free-market competition. Big Pharma immediately gets worked up every time the idea that maybe they shouldn’t have a price-gouging monopoly on potentially life-saving drugs is broached, but it feels like the time is now to get this done.
After the Senate handles voting rights, but before the end of the year, no one should be surprised if the needed reforms to lower prescription drug costs finally become a reality.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
