Video

Watch live: Biden, Harris give remarks on lowering health care costs

by The Hill Staff - 08/29/23 12:00 PM ET

President Biden and Vice President Harris are speaking Tuesday afternoon about the administration’s efforts to lower the out-of-pocket expenses for health care consumers.

One aspect of that process came into focus with the day’s announcement of 10 prescription drugs for price negotiation under Medicare Part D. The step, though essential, doesn’t guarantee a particular outcome, and any lowered prices achieved will only take effect Jan. 1, 2026.

But, the selected pharmaceuticals represent some 20 percent of recent annual costs for the Part D program. The most widely received medication on the list, the anti-blood clotting agent Eliquis, came at a gross cost of nearly $16.5 billion to Medicare over the 12 months ending in May 2023.

The event is scheduled for 2 p.m. EDT.

Watch the live video above.

Tags Centers for Medicare and Medicaid Services Department of Health and Human Services Joe Biden Kamala Harris Medicine Pharmaceutical industry prescription drug prices