Biden launches a new push to limit health care costs

On Friday, President Joe Biden unveiled a new set of initiatives aimed at reducing healthcare costs.

These measures include a crackdown on fraudulent insurance plans, updated guidance to prevent surprise medical bills, and efforts to alleviate medical debt associated with credit cards.

The president’s announcement builds upon previous initiatives designed to curb healthcare expenses.

The Department of Health and Human Services released new estimates, indicating that approximately 18.7 million older adults and Medicare beneficiaries will save an estimated $400 annually on prescription drug costs by 2025.

This reduction is a result of President Biden’s implementation of a cap on out-of-pocket expenses as part of last year’s Inflation Reduction Act, the Associated Press has reported.

READ MORE: https://apnews.com/article/biden-health-care-insurance-prescription-drugs-e8960514ff32bcc37bb8becccf3112cf

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