Hundreds of thousands of older Americans could pay less for outpatient drug treatments beginning early next year.

Hundreds of thousands of older Americans could pay less for some of their outpatient drug treatments beginning early next year, the Biden administration announced Thursday.

The White House unveiled a list of 48 drugs — from chemotherapy treatments to growth hormones used to treat endocrine disorders — whose prices increased faster than the rate of inflation this year. Under a new law, drugmakers will have to pay rebates to the federal government because of those price increases. The money will be used to lower the price Medicare enrollees pay on the drugs early next year.

“For years, there’s been no check on how high or how fast big pharma can raise drug prices,” President Joe Biden said Thursday, speaking in a lab at the National Institutes of Health in Bethesda, Maryland. “Let’s call this for what it is – it simply is a rip off. They’re ripping off Medicare. They’re ripping off the American people. We’re now fighting back.”

  • Jaysyn
    20•1 year ago

    The Biden administration is trying to get the #GOP controlled Congress to allow the $35 cap to cover your co-worker.

    Eli Lilly announced they are lowering the cost of insulin by 70% and capping what patients pay out-of-pocket for insulin at $35. This action, driven by the momentum from the Inflation Reduction Act, could benefit millions of Americans with diabetes in all fifty states and U.S. territories. The President continues to call on Congress to finish the job and cap costs at $35 for all Americans.

    On the other hand, the #GOP is actively trying to allow companies to milk your co-worker until he’s dead.

      • Jaysyn
        19•1 year ago

        You’re the one that asked “What about the rest of us?”

        I guess it’s too much to ask to for you to be angry at the groups actually excaberrating the issue & not the group trying to fix it?

        We will just give more money so countries can fight each other until oblivion.

        This has nothing at all to do with your friend’s issue. There is money for both of these things.

        • @captainlezbian
          12•1 year ago

          Yeah penalizing the group trying and failing is a sure fire way to ensure it never succeeds

          • Transporter Room 3
            9•1 year ago

            “You tried to stop the mass murderer, but you failed, which makes you just as bad so you’re both being executed” - bothsidesers

      • @PM_Your_Nudes_Please
        10•1 year ago

        That’s some weird whataboutism, don’t you think? “It doesn’t matter if one side is trying to fix things, because something completely unrelated isn’t directly impacted by this.”