Harris Strives to Reduce Drug Costs in North Carolina
TL/DR –
Vice President Kamala Harris aims to extend the $35 monthly insulin cap and the $2,000 annual out-of-pocket drug cost cap to all Americans, not just seniors on Medicare. Harris’ plans necessitate Congressional approval, which may only be possible if Democrats gain control of both the House and Senate. Additionally, Harris proposes to expand the federal government’s involvement in eliminating medical debt.
Vice President Kamala Harris aims to extend the $35 monthly cap on insulin costs and a $2,000 yearly limit on out-of-pocket drug expenses to all Americans, not just Medicare recipients.
Kamala Harris aims to further reduce prescription drug prices for all Americans, extending the policies passed under the Inflation Reduction Act (IRA).
IRA enforced a $35 monthly insulin cap for Medicare recipients and restricts their yearly out-of-pocket prescription drug expenses to $2,000.
Thanks to this measure, almost 57,000 North Carolina seniors on Medicare are now charged only $35 monthly for insulin prescriptions. An estimated 662,600 are projected to save $406 yearly due to the $2,000 out-of-pocket drug costs cap, according to a US Department of Health analysis.
Harris wants to extend the $35 monthly insulin cap and the $2,000 yearly out-of-pocket drug expenses cap to all Americans.
The IRA also authorized Medicare to negotiate drug prices with pharmaceutical companies, expected to save taxpayers about $6 billion by 2026.
Harris has proposed to expedite these negotiations and increase the range of eligible drugs.
“We capped the cost of insulin at $35 a month for seniors and allowed Medicare to negotiate drug prices,” Harris stated on Facebook. ”As president, I will continue to improve health care affordability for working Americans.”
Implementation of Harris’ plans would require congressional approval, possible only if Democrats win control of the House and Senate in the November elections.
Harris also aims to broaden the federal government’s role in medical debt cancellation. Last year, the Biden-Harris administration announced the development of federal rules barring unpaid medical bills from affecting credit scores.
Harris has expressed her intent to work with states to cancel the medical debt of millions of Americans if elected.
Lastly, Harris has committed to increasing competition in the pharmaceutical industry and cracking down on anti-competitive practices by pharmaceutical companies and middlemen.
—
Read More US News; North Carolina News