Biden talks about limiting certain drug prices

President Biden and Senator Bernie Sanders both addressed the issue of high drug costs in the United States, with Biden emphasizing that some actions by pharmaceutical companies amount to exploitation. The three companies that have agreed to cap the price of asthma inhalers at $35 have provided relief to Americans who rely on these medications. Meanwhile, Sanders commended the efforts of the Biden administration and Democrats in Congress to push for lower drug prices, including implementing a price cap for seniors starting next year.

The discussion coincided with the 10th anniversary of the Affordable Care Act (ACA), also known as Obamacare, which established government health care marketplaces for those without access to employer-sponsored plans. Data from the Kaiser Family Foundation showed that in 2023, the average annual health care premium for single coverage was $8,435 and family coverage was $23,968. Premiums have increased by 22% since 2018, highlighting a need for ongoing efforts to address high drug costs and make health care more affordable for Americans.

During the most recent Open Enrollment Period, more than 21 million Americans either selected or were automatically re-enrolled in health insurance coverage through HealthCare.gov and state-based Marketplaces. As such, addressing high drug costs and making healthcare more affordable remains a crucial priority for both President Biden and lawmakers in Congress.

By Sophia Gonzalez

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