The Biden administration on Wednesday outlined its effort to implement signature legislation that allows Medicare to negotiate the price of drugs for the first time and slashes costs of other drugs that seniors rely on.
White House officials said the Inflation Reduction Act that President Biden and Democrats muscled to passage last year will reduce out-of-pocket costs for more than two dozen drugs under Medicare and make certain vaccines free for 3.4 million Americans.
The administration outlined new and pending benefits for seniors as Mr. Biden leans into the health care debate ahead of the 2024 election cycle. Mr. Biden has accused Republicans of targeting key programs such as Medicare, a prized program for tens of millions of seniors, as part of ongoing spending talks — even as GOP leaders say the programs will be protected.
Republicans said the administration should have targeted the underlying cost of premiums instead of chasing high costs with bigger payouts from taxpayers. Mr. Biden’s signature law extended the generous subsidies through 2025.
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