The House is slated to vote on the package Friday, and after that, it will go to Biden’s desk.
from West Health and Gallup recently found that nearly 40% of American adults say they have skipped or delayed health care treatment or cut other spending in the last six months because of high health care costs.
Right now, Medicare beneficiaries, who often have fixed incomes, have no out-of-pocket maximum for drug costs. Once they reach $7,050 in a year, they pay 5% of subsequent costs. Paying 5% of drug costs might not sound like a lot, but when paying for expensive drugs, it can add up quickly. Under the new bill, they would not pay any costs for medications once they reach $2,000 in a year.
“We haven’t gotten to the point where we’re taking less drugs or, going to the doctor and saying, what happens if, instead of taking two pills a day, I take one pill a day,” he says, “But I’m one more drug away.”Medicare beneficiaries who spend more than that every year. The bill will also get rid of cost-sharing for adult vaccines covered under Medicare Part D, another provision that experts say will help seniors get the treatment they need.
Prescription drug prices have increased sometimes two to three times the rate of inflation, Glen Fewkes, director of health care access and affordability at AARP, said during an Invest in America event last month. While the rebates will be limited to those on Medicare, thepreviously said it expects the policy to have some spillover effects that would reduce the costs of prescription drug benefits on commercial insurance plans.
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