The Biden administration is set to deliver remarks from the White House to discuss ways of lowering healthcare costs for Americans, with a focus on prescription drugs. Three companies have agreed to cap the price of asthma inhalers at $30, a move that has been widely praised by health advocates.
Sen. Bernie Sanders from Vermont has highlighted the urgent need for action on this issue, calling on Congress and the Biden administration to protect Americans from being overcharged by pharmaceutical companies. He emphasized that prescription drug prices in the US are significantly higher than in other countries, making it difficult for many Americans to afford the care they need.
The Affordable Care Act (ACA), also known as Obamacare, marks its 10th anniversary this year. The ACA established government health care marketplaces for individuals who do not have access to group insurance through their employer or family members’ jobs. However, despite these efforts, premiums for single coverage have increased by an average of 22% since 2018, while family coverage costs have risen by an average of 23%.
During the 2024 Open Enrollment Period, over 21 million consumers selected or were automatically re-enrolled in health insurance coverage through HealthCare.gov and state-based Marketplaces. This number highlights the continued importance of government intervention in ensuring that all Americans have access to affordable and comprehensive healthcare services.
