Jonathan Cohn, Senior National Correspondent at HuffPost, writes about politics and policy with a focus on social welfare. He is also the author of SICK (2007, HarperCollins) and THE TEN YEAR WAR (2021, St. Martin's).
between the federal government and pharmaceutical companies have led to agreements that will lower the prices of 10 treatments, reducing costs for the Medicare program and for some individual seniors, the Biden administration announced early Thursday morning.
The administration plans to release more specifics about the agreements, along with ― maybe ― more details on how it reached those figures for savings. Thursday’s event has clear political relevance for Harris, the Democratic nominee for president who is campaigning against former President Donald Trump, the Republican nominee.Harris was an early supporter of giving the government more power over drug prices. Biden administration budget proposals, which she has said she supports, have called for strengthening that power.
The actual effects of these newly negotiated prices on individual seniors will depend on a variety of factors, including what drugs they take and which drug coverage plans they have. Many seniors will see only small savings or none at all.
Inflation Reduction Act Drug Prices
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