Millions of Americans to see reduced medication costs in 2025 | Morning in America

Published: Sep 02, 2024 Duration: 00:03:06 Category: News & Politics

Tags : WatchMorningInAmerica joe biden inflation big pharma aarp prescriptions inflation reduction act medication costs

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COOL. NIC, THANKS SO MUCH. WELL, ONE BIG TOPIC ON THE CAMPAIGN TRAIL IS PRESCRIPTION DRUG PRICES. AND ACCORDING TO A NEW AARP REPORT COME NEXT YEAR. MILLIONS COULD SAVE MORE THAN $1000 ON THEIR PRESCRIPTIONS. IT'S A HUGE DEAL FOR A LOT OF FAMILIES GOES A LONG WAY. ALL OF THIS IS PART OF THE BIDEN ADMINISTRATION'S INFLATION REDUCTION ACT WITH INFLATION HIGH AND AMERICAN SPENDING A WHOLE LOT OF MONEY AND PRESCRIPTION DRUGS EACH YEAR. THIS COULD BE A DECIDING FACTOR FOR VOTERS. NEWSNATION'S XAVIER WALTON JOINS US NOW. XAVIER, I THINK A LOT OF PEOPLE SAYING WE'LL SEE THIS. YOU KNOW, WE'LL BELIEVE IT WHEN WE SEE IT, I SHOULD SAY. WILL AMERICANS WILL YOU AND ME REALLY SEE THESE KINDS OF CUTS. >> MR KEY. THAT IS A GREAT QUESTION. GOOD MORNING. AND THERE IS A QUESTION SOME PEOPLE, QUITE FRANKLY, SOME VOTERS ARE LITTLE BIT SKEPTICAL ABOUT. BUT DRUG CARS IN AMERICA. OBVIOUSLY JUST SAID THIS TOPIC AS WE'RE JUST SOME 60 DAYS OUT FROM ELECTION DAY. BUT THIS NEW REPORT POTENTIALLY IMPACTING MILLIONS OF OLDER AMERICANS NATIONWIDE AARP SAYING, YOU KNOW, PEOPLE WITH MEDICARE WILL SEE CUTS TO THEIR PRESCRIPTION DRUG COSTS STARTING NEXT YEAR. SO IN JANUARY, NEW $2000 OUT-OF-POCKET CAP KICKS IN FROM THE 2022 INFLATION REDUCTION ACT. PART OF THAT FIRST EVER DEAL WITH DRUG MAKERS. ARE THESE PRICES ON 10 DRUGS COMMONLY USED BY PEOPLE WITH MEDICARE. SO THE PRESCRIPTION DRUG ABOUT IT BETTER IS PART D PROVIDES NO COVERAGE FOR AROUND 56 MILLION PEOPLE. THAT'S A LOT OF PEOPLE. THE $2000 CAP IS EXPECTED REDUCE DRUG COSTS FOR MORE THAN 3 MILLION AMERICANS. ALL RIGHT. NOW, I WANT TO INTRODUCE YOU AS HOME TO ONE OF THOSE PEOPLE, RIGHT. THIS IS DIANA DEBIDO. DIANA WAS DIAGNOSED WITH CANCER AND SHE SAYS SHE WAS PAID MORE THAN 8 100 BUCKS. A MONTH FOR LEUKEMIA DRUGS. >> I MUST HAVE A HEART ATTACK WHEN THEY SAW THE FIRST CO PAY WHICH PEOPLE WHO CAN'T AFFORD SADLY MANY OF THEM PROBABLY DON'T SURVIVE. >> AND THAT IS THE HARSH REALITY. THE BIGGEST RELIEF. BUT WHAT FELT BY FOLKS LI DIANA THERE WHO USE HIGH PRICED BRANDED DRUGS THE MOST THE WHITE HOUSE YOU'RE SAYING, YOU KNOW WHAT, THIS COULD SAVE AMERICANS HUNDREDS IF NOT THOUSANDS OF DOLLARS ON A CASE-BY-CASE BASIS. BUT COLLECTIVELY SAVING TAXPAYERS POTENTIALLY BILLIONS OF DOLLARS FOR MEDICATIONS. >> MARKIE YET SOUNDS REALLY GOOD FOR FOR PATIENTS AND FAMILIES. BUT I'M CURIOUS HOW ARE DRUG COMPANIES AND PHARMACEUTICAL COMPANIES RESPONDING TO THIS. >> THEY'RE NOT THRILLED, TO SAY THE LEAST. DRUGMAKERS PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA. OBVIOUSLY CALLING THE INFLATION REDUCTION ACT. HERE'S WHAT THEY SAID PREVIOUSLY A BAD DEAL BEING FORCE. AN AMERICAN PATIENTS POINTING AT HIGHER COSTS. MORE FRUSTRATING INSURANCE DENIALS AND FEWER TREATMENTS FOR OUR LOVED ONES AND MARKET. THERE WAS EVER ANY DOUBT OLDER AMERICANS, YOU KNOW WHERE CONCERNS, SO TO SPEAK, ABOUT THE COST MEDICAL CARE. A STUDY JUST CAME

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