.POTUS promoted his efforts to lower prescription drug prices, saying, 'it's going to change the way drugs are priced.' Biden's talk followed the release of new data showing the effects of the Inflation Reduction Act on healthcare costs.
President Joe Biden promoted his efforts to lower prescription drug prices Wednesday afternoon, saying,"it's going to change the way drugs are priced."
Biden said that 3.4 million seniors and people with disabilities could have saved an average of $70 per person had the Inflation Reduction Act been in effect in 2021. The act also allowed Medicare to negotiate lower prescription drugs for seniors and capped the cost of insulin at $35. Beginning April 1, seniors may see out-of-pocket costs for a number of"Part B" prescription drugs decrease by $2 to as much as $390 per average dose, per a White House fact sheet.
Biden was introduced by a Nevada diabetic who said his insulin costs were reduced by half thanks to the president's actions.
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