Biden’s Big Announcement This Week Could Change The Election (www.huffpost.com)

submitted 3 months ago by return2ozma@lemmy.world to c/politics@lemmy.world

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The Department of Health and Human Services is about to publish the final prices for 10 prescription drugs that Medicare covers, following negotiations between the federal government and the pharmaceutical manufacturers. The drugs include expensive, widely used blood thinners and diabetes treatments, as well as a cancer therapy medication.

Such negotiations are routine in most other economically advanced countries ― it’s the way their governments set drug prices — but they have never before taken place in the U.S. That’s changing this year thanks to the Inflation Reduction Act, which Democrats passed on a party-line vote and President Joe Biden signed into law last year.

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[-] Coelacanth@feddit.nu 28 points 3 months ago

Also, the new prices won’t actually take effect until Jan. 1, 2026.

...

Even figuring out the magnitude of the likely savings could be difficult, or at least take some time. The newly negotiated prices for these 10 drugs are going to be much lower than the official list prices, but Medicare insurers already get discounts on those prices for their customers. And those discounts are proprietary information.

Yeah I think such a distant change will be hard to spin into meaningful voter opinion. Maybe I'm wrong, but it feels a little too small and abstract to have a big impact.

[-] TropicalDingdong@lemmy.world 20 points 3 months ago

Yeah I think such a distant change will be hard to spin into meaningful voter opinion. Maybe I’m wrong, but it feels a little too small and abstract to have a big impact.

This like, every policy the Democrats went after for the past 4 years. Bruh just focus on the Child Tax credit so we can get a Democrat elected.

[-] usernamesAreTricky@lemmy.ml 16 points 3 months ago

They did go after it, but Republicans killed it in congress

Senate Republicans block bill to expand child tax credit

https://www.nbcnews.com/politics/congress/senate-democrats-will-force-vote-expand-child-tax-credit-gop-oppositio-rcna164499

[-] Coelacanth@feddit.nu 11 points 3 months ago

Can't let the Biden administration actually accomplish anything, that would be insane in an election year. Especially since Trump can run on a child tax credit policy now. Same thing with the border bill.

[-] RizzRustbolt@lemmy.world 17 points 3 months ago

I'm still hoping he issues an executive order barring convicted felons from running for federal office.

[-] Anti_Iridium@lemmy.world 1 points 3 months ago

Ehhh, I don't think I would be happy because of stuff like this

[-] Landless2029@lemmy.world 7 points 3 months ago

Downvoted for the most clickbaited title.

[-] jordanlund@lemmy.world 4 points 3 months ago

"One reason for the low public awareness may be that the negotiating power is quite limited. The new prices apply only to Medicare and not private insurance for non-elderly, non-disabled Americans. And the negotiations cover only a limited set of drugs, starting with the 10 medications this year."

This is the student loan forgiveness debacle all over again. Claiming credit for a "sweeping change" that few people will ever see. If they see it at all.

[-] Nougat@fedia.io 13 points 3 months ago

A public option would give the government the leverage to make this happen for a lot more people. Single payer would give the government the leverage to make this happen for everyone.

I wonder why we don't have either of those.

[-] themadcodger@kbin.earth 8 points 3 months ago

One old tosser from Connecticut.

[-] Tolookah@discuss.tchncs.de 9 points 3 months ago* (last edited 3 months ago)

I'll bet money though that private insurance companies will see that as a new starting price point.

Edit: also targeting the voting block that votes reliably. (Historically at least)

[-] Zaktor@sopuli.xyz 6 points 3 months ago

I think private insurance usually pays more than Medicare (because Medicare is massive, used by people frequently needing health services, and the government can use that leverage to set prices), but whatever negotiated price information they release will be a new anchor for private insurance costs. The private insurances probably aren't going to pay $700 when the government pays $55.

There's also a political incentive for the insurance companies to not look significantly worse than Medicare lest they boost support for Medicare-for-All or a public option.

[-] kikutwo@lemmy.world 8 points 3 months ago

Uh, there 66.7 million people enrolled in Medicare.

[-] shalafi@lemmy.world 4 points 3 months ago

And GOP voters won't notice or credit it in any case.

Our babysitter was bemoaning her lack of healthcare when my wife turned her onto the ACA. "This is great and it ain't that Obamacare bullshit!" Yeah.

Democrats fail, hard, at messaging. Harris' team seems to be stepping up though!

[-] MediaBiasFactChecker@lemmy.world -2 points 3 months ago

Huffington Post - News Source Context (Click to view Full Report)

Information for Huffington Post:

MBFC: Left - Credibility: Medium - Factual Reporting: Mixed - United States of America
Wikipedia about this source

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https://www.huffpost.com/entry/biden-harris-announcement-drug-prices-seniors_n_66bcf101e4b03da4fc01cc2d

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this post was submitted on 14 Aug 2024

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