The Top Line
Drug pricing and the 2024 presidential election
Nov 1, 2024
John Barkett, a healthcare policy expert and former senior advisor on the White House Domestic Policy Council, dives into the pivotal role of the 2024 presidential election in shaping drug pricing. He contrasts Kamala Harris and Donald Trump's approaches to reducing drug costs, emphasizing how the Inflation Reduction Act might influence their strategies. The discussion also covers Medicare negotiations, the historical context of drug pricing reforms, and Project 2025's implications, all underscoring the complex intersection of policy, politics, and pharmaceutical innovation.
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Quick takeaways
- Vice President Kamala Harris aims to enhance drug pricing reforms through the Inflation Reduction Act, particularly for Medicare and potentially beyond.
- Former President Donald Trump's previous policies and the Project 2025 outline signify ongoing complexity and uncertainty surrounding future drug pricing reform.
Deep dives
Harris's Approach to Drug Pricing Reform
Vice President Kamala Harris aims to build on the drug pricing initiatives established by the Biden-Harris administration, particularly through the Inflation Reduction Act (IRA). This act includes provisions to lower drug prices for Medicare beneficiaries by allowing some level of negotiation on drug prices. For instance, it has capped out-of-pocket costs for insulin at $35, significantly easing financial burdens. Additionally, Harris has expressed a desire to expand these negotiations beyond Medicare, indicating a potential drive to lower drug costs for individuals with commercial insurance.
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