President Biden has rolled out a new set of initiatives intended to reduce health care costs.
Mr. Biden's remarks will build on previous initiatives to limit health care costs, with the Department of Health and Human Services releasing new estimates showing 18.7 million older adults and other Medicare beneficiaries will save an estimated $400 per year in prescription drug costs in 2025 because of the president placing a cap on out-of-pocket spending as part of last year's Inflation Reduction Act.
Republican lawmakers have criticized Mr. Biden's policies by saying they have spurred higher prices that hurt the well-being of families. "That's not real insurance — that's junk insurance," Tanden told reporters on a phone call previewing the president's remarks."We will propose a rule to crack down on these plans."
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