Biden promotes health care proposals in Medicare and Medicaid anniversary reconciliation package
President Biden emphasized the health care provisions in the health, climate and tax package slated for a Senate vote in a statement recognizing the 57thth Anniversaries of the founding of Medicare and Medicaid.
Biden said in the statement that the legislation, dubbed the Inflation Reduction Act, will retain the Affordable Care Act eligibility improvements that were included in the American Rescue Plan, which saved 13 million Americans an average of $800 a year in health insurance premiums. according to statement. He said the law will also protect 3 million Americans from becoming uninsured.
Sen. Joe Manchin (DW.Va.) and Senate Majority Leader Chuck Schumer (DN.Y.) on Wednesday reached agreement on a bill that would allow Medicare to directly negotiate the prices of drugs and the Limit out-of-pocket prescription drug costs to $2,000 per year. It would also invest $369 billion in climate programs and $300 billion in deficit reduction over 10 years.
Biden said allowing Medicare to negotiate will reduce costs for potentially millions of seniors and limit drug costs to $2,000 would save Medicare beneficiaries with cancer and other chronic diseases thousands of dollars a year.
“Congress Democrats have been fighting for this for decades — and we stand ready to come together and get it done,” he said.
Biden said he and congressional Democrats are fighting to strengthen Medicare and Medicaid, which offer health insurance to seniors and low-income Americans, respectively.
Nearly 140 million Americans will benefit from the programs, according to Biden.
President Lyndon Johnson established Medicare and Medicaid as part of the 1965 Social Security Amendments. Nearly 20 million Americans enrolled in the programs in the first three years, according to the National Archives.