Joe Grogan, former director of Trump’s Domestic Policy Council, said in an interview with Breitbart News on Thursday that the benefits of the Biden-Harris drug price deal are “Soviet-style price controls” and that claims that it will save money are “complete bullshit.”
Inflation Control Law Provided To allow Medicare to negotiate prices for certain drugs, the Centers for Medicare and Medicaid Services (CMS) will select the first 10 drugs to be covered under Medicare Part D, and the negotiated prices will be available on Medicare receipts in 2026.
Biden-Harris Administration Claims The company’s negotiating tactics could save $6 billion on those 10 drugs and reduce out-of-pocket costs for Medicare beneficiaries by $1.5 billion, the people said.
However, at many outlets, POLITICO They point out that it may be hard for the Harris campaign to tout these savings as a win, because pharmacy benefit managers (PBMs), rebates, out-of-pocket caps and other costs all affect how much Americans pay for prescription drugs.
“Taking all these factors together, it’s difficult to fathom how the White House’s estimated $6 billion in Medicare savings would impact average Americans.” POLITICO “What’s more, the Biden-Harris administration has said the actual price is from negotiated discounts and is not classified, making it impossible to know how well the negotiations actually went.”
Grogan, who led much of the Trump administration’s health care policy, told Breitbart News that the inflation-busting plan “destroyed Medicare Part D,” and likened the Biden-Harris administration’s efforts to spend billions of dollars to bail out Medicare Part D premiums to “putting a tourniquet on a fatal wound.”
Grogan said the administration’s claimed $6 billion in savings is “total bullshit” and a “made-up number” because it compares savings from list prices of drugs to negotiated prices, but many private entities, including insurers and PBMs, are working to lower drug prices.
He added that the Biden-Harris administration is “doubling down on Soviet price controls.”
Coincidentally, Prime Minister Harris is reportedly due to announce price controls on food and groceries on Friday, which will be a centrepiece of his economic policy.
of The Wall Street Journal attention Pharmaceutical companies are not keen on negotiating drug prices.
Johnson & Johnson, for example, has selected three drugs for negotiation but still expects positive growth.
“We have received the final numbers from the government,” J&J Vice President Jennifer Taubert explained, “While they are not aligned with the IRA, these numbers were included in the guidance we provided last year and still look very good to us.”
“Indeed, our analysis finds that PBM negotiations have already secured significant discounts for six of the 10 drugs selected by the Centers for Medicare & Medicaid Services (CMS),” the Pharmaceutical Care Management Association (PCMA) said in a statement on Thursday.
“The key to reducing drug costs is to increase competition among pharmaceutical companies. We encourage the Administration to focus on drugs where prices and costs are rising due to a lack of competition, and to ensure PBM negotiations continue to deliver value and savings to Medicare.”
Grogan noted that Harris voted in a runoff to pass the Inflation Control Act in the Senate, and said the bill does nothing but “stomp up inflation.”
Vice President Harris to vote in runoff to pass inflation-fighting bill
Two years ago today, I proudly voted to pass the Inflation Control Act. Here’s what it means for the American people: ☑️ Caps insulin costs at $35 per month for seniors ☑️ The largest investment in history to combat climate change ☑️ Over $1 billion in unpaid taxes collected from 1,600 billionaires to date ☑️ Caps prescription drug costs at $2,000 per year for Medicare recipients ☑️ Creates an estimated 1.5 million jobs over the next decade
Contributor Vice President Kamala Harris Wednesday, August 7, 2024
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter. Sean Moran 3.
