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Will Medicare negotiate lower prescription drug costs by end of 2024?
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Medicare and Medicaid•Americans•Inflation Reduction Act•Biden•Medicare•House Democrats•Republican•Medicaid
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Official Medicare announcements or reputable news sources
Story
Medicare and Medicaid Celebrate 59th Anniversary with $35 Insulin Cap, Covering 150 Million Americans
Jul 30, 2024, 04:14 PM
Today marks the 59th anniversary of the signing of Medicare and Medicaid into law by President Lyndon B. Johnson. These programs have provided affordable health care to millions of Americans, including seniors, low-income families, and people with disabilities. The Inflation Reduction Act, passed under President Biden's administration, has introduced significant benefits such as a $35 monthly cap on insulin prices for seniors and the ability for Medicare to negotiate lower prescription drug costs. However, there are ongoing political debates, with House Democrats vowing to protect and expand these programs against Republican proposals to cut funding by $1.2 trillion and raise prescription drug costs through initiatives like Trump's Project 2025. Currently, over 150 million Americans are covered by Medicare and Medicaid, including 2.2 million Michiganders.
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