During a July 24 campaign rally in Charlotte, North Carolina, former President Donald Trump claimed that Vice President Kamala Harris was responsible for passing legislation in the U.S. Senate to cut Medicare spending by nearly $300 billion.
KFF Health NewsAug 20 2024
But the government's spending less on Medicare programs would not amount to the kind of "cut" to Medicare benefits Trump implied, experts told KFF Health News. Several provisions in the law pertaining to prescription drug pricing are widely seen by health policy experts as beneficial to both consumers and the government.
"The idea behind drug price negotiation is that Medicare can use its buying power to get a better price than what is currently being negotiated for these drugs," said Juliette Cubanski, deputy director of the program on Medicare policy at KFF, a health information nonprofit that includes KFF Health News.
"There are big shifts in who’s paying for what," said Andrew Mulcahy, a senior health economist who researches prescription drug markets at the Rand Corp., a nonpartisan think tank. "But that doesn’t mean they’re getting any less. If anything, they'll have better access to drugs." "I think for many of the drugs selected in the first year, my expectation is that the government won’t be able to do much better than the PBMs," Mulcahy told KFF Health News.
Drugs Health Care Insulin Medicaid Prescription Drug
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New deals will cut medicare costs for expensive drugsThe Biden administration said Thursday that it has signed deals with drug companies that will lower the prices on 10 of the most popular and expensive drugs used by American seniors.
Read more »
White House strikes deal to cut prices of these 10 popular Medicare drugs, saving taxpayers billionsThe Biden administration is taking a victory lap after federal officials inked deals with drug companies to lower the price for 10 of Medicare’s most…
Read more »
Joe Biden quits the race, at last. What’s next?The embattled president has endorsed Kamala Harris, his vice-president, as his successor
Read more »
Kamala Harris reveals plan for US economy as she pledges to cut cost of livingVice President Kamala Harris unveiled her plans for the US economy as she addressed voters in Raleigh, North Carolina on Friday.
Read more »
Kamala Harris plans tax breaks for families in bid to cut costsSupport for homebuyers and crackdown on price gouging designed to win over inflation-weary voters
Read more »
Harris has cut Trump’s lead, but the honeymoon is overPollsters warn the election race has not dramatically changed since Biden's exit
Read more »