Media mind dumbed Leftists love to point to "prescription drug prices" as one of the many accomplishments of the feckless Biden regime. However this analysis says his claim is not only false, but his failed policy has actually made prescription drugs more expensive!
Typical Leftist spin...the exact opposite of what they claim.
Biden's drug price boomerang
excerpt:
The White House on Thursday proclaimed that the IRA’s drug rebates are already saving seniors money: “President Biden’s prescription drug law cracks down on price gouging from Big Pharma.” According to the Administration, IRA drug rebates save seniors “as much as $618 per average dose on 47 prescription drugs” (our emphasis). This is deceptive marketing. It’s possible that Medicare co-insurance as a result of the IRA could be hundreds of dollars less on a cancer drug that costs tens of thousands of dollars per dose and whose list price increases by double digits. But most Medicare patients will see little benefit.
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On the other hand, privately insured patients will likely pay much more for drugs owing to the rebates. Democrats tacitly conceded this when they drafted the law. They initially planned to apply the IRA inflation rebates to the private insurance market too. That’s because employers worried that drug makers would offset the cost of the Medicare rebates by raising prices for their workers.
Typical Leftist spin...the exact opposite of what they claim.
Biden's drug price boomerang
excerpt:
The White House on Thursday proclaimed that the IRA’s drug rebates are already saving seniors money: “President Biden’s prescription drug law cracks down on price gouging from Big Pharma.” According to the Administration, IRA drug rebates save seniors “as much as $618 per average dose on 47 prescription drugs” (our emphasis). This is deceptive marketing. It’s possible that Medicare co-insurance as a result of the IRA could be hundreds of dollars less on a cancer drug that costs tens of thousands of dollars per dose and whose list price increases by double digits. But most Medicare patients will see little benefit.
...more
On the other hand, privately insured patients will likely pay much more for drugs owing to the rebates. Democrats tacitly conceded this when they drafted the law. They initially planned to apply the IRA inflation rebates to the private insurance market too. That’s because employers worried that drug makers would offset the cost of the Medicare rebates by raising prices for their workers.
