Biden's Budget: Impact on Health Care, Taxes, National Security, and Social Security

New data from the Department of Health and Human Services shows that millions of seniors are saving hundreds of dollars each per year because of President Biden’s prescription drug law, which allows Medicare to negotiate lower prescription drug prices for seniors, caps the cost of insulin at $35, makes recommended vaccines free for Medicare beneficiaries, and requires prescription drug companies to pay rebates to Medicare if they raise their prices faster than inflation. The Biden Administration is fighting to expand these cost savings to all Americans and has released new data and actions showing the savings people with Medicare will now enjoy because President Biden’s Inflation Reduction Act makes recommended Part D vaccines free for beneficiaries. HHS also announced the first set of Part B prescription drugs that will be subject to Medicare inflation rebates because they raised their prices faster than inflation.