The Biden administration said Thursday that drug price negotiations will knock hundreds of dollars — in some cases thousands — off the list prices of 10 of Medicare’s most popular and costliest drugs. The discounts, agreed to after months of negotiations with drug manufacturers, range between 38% and 79% on the medication's list price, which is the cost of medication before discounts or rebates are applied — not the price people actually pay for prescriptions. Medicare spent $50 billion covering the drugs last year and taxpayers are expected to save $6 billion on the new prices, which do not go into effect until 2026.
Listen that needs work too, but this is about negotiating lower drug prices, not holistic medical care changes. Something like that would need some significant legislation with significant bipartisan support.
And that is one thing that the Republicans are absolutely not going to do for the Biden administration in an election year (if ever).