Biden plans to talk up how his administration is rolling out several parts of a law passed last year that cap the price of insulin and allow the government to negotiate deals on pharmaceutical drugs for Medicare enrollees.
In a speech on Wednesday in Las Vegas that could serve as a preview of the campaign ahead, Biden planned to put the issue of lowering drug costs at the center of his policy and political agenda.
Biden plans to talk up how his administration is rolling out several parts of that law, passed in a Democratic-controlled Congress last year, that cap the price of insulin, make most vaccines free and allow the federal government to negotiate deals on a handful of pharmaceutical drugs for Medicare enrollees.President Joe Biden appeared in Virginia on Feb. 10, 2022, to speak about how his "Build Back Better" legislation would limit the cost of prescription drugs.
Biden has proposed extending that cap to all Americans, but that plan faces an uphill battle. Efforts to pass laws capping the price of insulin for uninsured Americans or those with private insurance failed in the Democratic-controlled Congress last year. The Centers for Medicare and Medicaid Services won't send a bill to drug companies until 2025, but the federal agency has already started tracking drug prices. On Wednesday, CMS will identify 27 drugs whose prices were increased too fast, a move that will limit the price that Medicare enrollees have to pay for those drugs and that the administration hopes will motivate drugmakers to lower their cost.
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