Biden Calls on Congress to Expand Medicare, Make ObamaCare Permanent
President declares that the law to cap insulin costs is the first step towards saving government money and consumers.
In his second State of the Union address President Joe Biden highlighted The Affordable Insulin Now Act, which caps insulin costs at $35 per month for seniors. He called on Congress to expand the program Medicare to be inclusive of all people and to provide the ahref=”https://www.theepochtimes.com/t-affordable-care-act”>Affordable Care Act permanent.
“Let’s finish the job and make (health care) benefits permanent. Let’s expand Medicare for everyone,” Biden said.
Biden states that drug companies spend between $10 and $13 to package insulin. On average, the companies charged $98 per vial. Biden claimed that such markups were common in America’s health care industry.
“We pay more for prescription drugs than any nation on the earth,” Biden said.
The Act went into effect January 1, 2023. Under the Inflation Reduction Act, the cost is capped at $35 or 25 percent of the drug’s negotiated price under Medicare. This plan also reduces the out-of-pocket cost of prescriptions for seniors. Biden stated that the plan would help consumers save money and reduce deficits without hurting their businesses.
“Big Pharma will continue to do well,” The president stated.
Biden told the joint session of Congress that money saved by seniors is money Medicare doesn’t have to pay out, which is money the government saves. Biden suggested that Medicare be extended to include all prescription drugs.
“That’s a lot of savings for the federal government,” Biden said.
Veto Promised
He advised members of Congress to not call for the repeal or modification of the Inflation Reduction Act. He said that repealing the Inflation Reduction Act would not only eliminate the savings associated with higher prescription drug costs, but also remove the benefits of increasing the cost of these drugs.
“If you try to raise the cost of prescription drugs, I will veto it,” Biden said.
He also called for Congress to ensure that 16 million Americans have health insurance coverage under the Affordable Care act, which expires at 2025.
“Let’s finish the job and make these benefits permanent,” Biden said.
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