Biden Bits: “Sent a Message to the World”…

October 23, 2024 12:00 pm EDT Tiff Biden Tweets (Open Thread) Comments Off on Biden Bits: “Sent a Message to the World”…
Biden Tweets Logo. Image by Lenny Ghoul.

It’s Wednesday…

President Biden’s public schedule for 10/23/2024:

10:00 AM
The White House In-Town Pool
In-Town Pool Call Time
12:30 PM
The White House Closed Press
The President receives the President’s Daily Brief
1:30 PM
James S. Brady Press Briefing Room

Press Briefing by Press Secretary Karine Jean-Pierre

Press Briefing by Press Secretary Karine Jean-Pierre @1:30 PM D.C., time:


Lowering Cost of Prescription Drugs Tweets

From Tuesday…

Remarks by President Biden on Lowering the Cost of Prescription Drugs | Concord, NH; the YouTube is 1 hour and 9 minutes long. President Biden begins his remarks at the 40 minute mark.

These new low prices for all 10 drugs will go into effect in January 2026 and cut the prices on the — those 10 drugs by between 40 and 80 percent. 

[snip]

It’s already passed.  And, folks, it isn’t just saving seniors money.  As I said, it’s also saving taxpayers billions of dollars because Medicare will no longer have to pay exorbitant prices to Pharma. 

Remarks by President Biden on Lowering the Cost of Prescription Drugs | Concord, NH; the YouTube is 1 hour and 9 minutes long. President Biden begins his remarks at the 40 minute mark. 10/23/2024.

From the Centers for Medicare & Medicaid Services (CMS)

08/15/2024:

Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026

In August 2022, President Biden signed the Inflation Reduction Act of 2022 (P.L. 117-169) into law. The law makes improvements to Medicare by expanding benefits, lowering drug costs, and improving the sustainability of the Medicare program for generations to come. The law provides meaningful financial relief for millions of people with Medicare by improving access to affordable treatments and strengthening Medicare, both now and in the long run.

For the first time, the law provides Medicare the ability to directly negotiate the prices of certain high expenditure, single source drugs without generic or biosimilar competition. The Centers for Medicare & Medicaid Services (CMS) selected ten drugs covered under Medicare Part D for the first cycle of negotiations for initial price applicability year 2026 and engaged in voluntary negotiations with the drug companies for the selected drugs. Below is the list of negotiated prices, which the statute refers to as Maximum Fair Prices (MFPs), for 10 drugs covered under Medicare Part D that will go into effect beginning January 1, 2026, based on negotiations and agreements reached between CMS and participating drug companies.

CMS negotiated in good faith consistent with the requirements of the law on behalf of people with Medicare and the Medicare program. Throughout the negotiation process, the CMS team took into account the factors outlined in the law in negotiating these prices, which supports the need for innovation and drug development with better prices for people with Medicare and the Medicare program.

CMS engaged in genuine, thoughtful negotiations with each participating drug company. CMS developed an initial offer for each drug, consistent with the process described in the statute and the agency’s guidance, and each manufacturer responded with a counteroffer. CMS held three meetings with each participating drug company to discuss the offers and counteroffers, discuss evidence, and attempt to arrive at a mutually acceptable price for the drug. During the course of the negotiation process, CMS revised its offers for each of the drugs upward in response to these discussions. Likewise, many drug companies revised their counteroffers for their drugs downward, based on the discussions with CMS. For five of the selected drugs, this process of exchanging revised offers and counteroffers resulted in CMS and the drug company reaching an agreement on a negotiated price for the drug in association with a negotiation meeting. In four of these cases, CMS accepted a revised counteroffer proposed by the drug company. For the remaining five selected drugs, CMS sent a written final offer to those drug companies, consistent with the process described in its guidance, and in each instance, the drug company accepted CMS’s offer on or before the statutory deadline. 

Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026. 08/15/2024.

Impact of the Negotiated Prices

Overall Medicare Spending and Out-of-Pocket Spending in 2023:

For the time period between January 1, 2023, and December 31, 2023, about 8.8 million of the 54 million people with Medicare Part D coverage were dispensed these drugs to treat a variety of conditions, such as cardiovascular disease, diabetes, autoimmune diseases, and cancer. These selected drugs accounted for $56.2 billion in total Part D gross covered prescription drug costs, or about 20% of total Part D gross covered prescription drug costs during 2023. During that same time period, people with Medicare Part D prescription drug coverage spent $18.9 billion in out-of-pocket costs for all drugs covered under Part D, including $3.9 billion out-of-pocket for these drugs selected for negotiation.

Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026. 08/15/2024.

Estimated Medicare Net Savings in 2023:

Compared to 2023 Medicare spending net of all rebates and certain fees and payments, if the prices agreed to between CMS and participating drug companies under the Negotiation Program had been in effect during 2023, the negotiated prices would have saved an estimated $6 billion in net covered prescription drug costs, which would have represented 22% lower net spending in aggregate. 

Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026. 08/15/2024.

Projected Savings for People with Medicare Part D Coverage:

When the negotiated prices go into effect in 2026, people enrolled in Medicare prescription drug coverage would save under the projected defined standard benefit design an estimated $1.5 billion. These savings from the Negotiation Program are in addition to savings from other cost saving provisions in the Inflation Reduction Act, such as the first ever cap on out-of-pocket drug costs for people with Medicare. 

Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026. 08/15/2024.
MFPA

But thanks to the Inflation Reduction Act, we finally beat Big Pharma — in no small part because of your delegation.  Not a joke.  (Applause.)

[snip]

By the way, in the first six months of this alone — year alone, on out-of-pocket spending, we saved the people enrolled in Medicare nearly $1 billion in six months — $1 billion less out of your pocket, nationwide, in just the first six months.  

Remarks by President Biden on Lowering the Cost of Prescription Drugs | Concord, NH; the YouTube is 1 hour and 9 minutes long. President Biden begins his remarks at the 40 minute mark. 10/23/2024.

And Trump — Trump and his MAGA Republican friends want to cut the Affordable Care Act out completely.  You know how many times they’ve tried to introdu- — they’ve introduced bills over the last three years to do that?  Fifty-one times.  Fifty-one times.  He wants to replace the Affordable Care Act.  We can’t let that happen.

Remarks by President Biden on Lowering the Cost of Prescription Drugs | Concord, NH; the YouTube is 1 hour and 9 minutes long. President Biden begins his remarks at the 40 minute mark. 10/23/2024.

From Wednesday…

More Americans — (applause) — more Americans have health care today than ever in American history — today — than ever.  And it’s in part because I expanded tax credits that save an average of $800 per person per year, reducing health care premiums for millions of working families who have coverage under the Affordable Care Act. 

Remarks by President Biden on Lowering the Cost of Prescription Drugs | Concord, NH; the YouTube is 1 hour and 9 minutes long. President Biden begins his remarks at the 40 minute mark. 10/23/2024.

That’s why one of the proudest things I’ve ever done was pass the Inflation Reduction Act that allowed us to negotiate lower prices for prescription drugs.  Not a single Republican voted for this — not one single Republican in the House or Senate voted.  Not one. 

But thanks to the Inflation Reduction Act, we finally beat Big Pharma — in no small part because of your delegation.  Not a joke.  (Applause.)

Remarks by President Biden on Lowering the Cost of Prescription Drugs | Concord, NH; the YouTube is 1 hour and 9 minutes long. President Biden begins his remarks at the 40 minute mark. 10/23/2024.

Meeting With Prime Minister Robert Golob of the Republic of Slovenia

From Tuesday…

From Wednesday…

The video clip is 45 seconds long.

Remarks by President Biden and Prime Minister Robert Golob of the Republic of Slovenia Before Bilateral Meeting; the YouTube is 1 minute and 45 seconds long.

PRESIDENT BIDEN: Got everybody?

Well, Mr. Prime Minister, welcome to the White House. We were just talking very briefly that I spent a little time in Slovenia early on, and it’s a beautiful, beautiful country.

Twenty years ago, when I was a United States senator, I pushed very hard for your country’s admission to NATO, as you know, because I knew then what I know now: We’re stronger and a safer world when we stand together with good partners like you.

We’ve seen it in support for the brave people of Ukraine as they defend themselves against Russia’s brutal aggression. And we see it in — in our work to support democracy and prosperity across the W- — the Western Balkans. And we see it — and we saw it earlier this past summer when we secured the release of 16 people, including four Americans, unjustly held in Russia. And I want to thank you. It was a feat of diplomacy. I want to thank your country for your support and your leadership and partnership that made it possible. And that’s not hyperbole. You made it possible. Thank you.

We made it clear to anyone who questions whether our allies matter — well, they just look at what you did. And they — you matter a great deal.

And so, Mr. Prime Minister, thank you. Thank you, thank you, thank you. And we look forward to our discussion today.

The floor is yours.

PRIME MINISTER GOLOB: Mr. President, dear Joe, just couple of words, and that is that, with a little help of true friends, nothing is impossible. And I think that’s really what our joint effort with the prisoner swap demonstrated to all of the world. And let’s continue to work in a true fr- — friendship and with a lot of trust.

PRESIDENT BIDEN: Well, there’s a lot we agree on. So, welcome. Good to have you here.

PRIME MINISTER GOLOB: Glad to be here.

PRESIDENT BIDEN: And we got to get our — get moving.

Thank you all.

Remarks by President Biden and Prime Minister Robert Golob of the Republic of Slovenia Before Bilateral Meeting; the YouTube is 1 minute and 45 seconds long. 10/22/2024.

Readout of President Joe Biden’s Meeting with Prime Minister Robert Golob of the Republic of Slovenia

President Joseph R. Biden, Jr. met today with Prime Minister Robert Golob of the Republic of Slovenia at the White House.  The leaders had an in-depth discussion on a range of foreign policy issues of mutual interest.  President Biden expressed his gratitude for Slovenia’s role in the historic deal that secured the release of three Americans unjustly detained by Russia, as well as an American green card holder who won a Pulitzer Prize while in Russian detention, and 12 other human rights defenders and political dissidents.  They discussed U.S.-Slovenian cooperation on clean energy and advanced technologies, and a joint approach to Western Balkans – an area of strategic interest for both  the United States and the Republic of Slovenia.  They reaffirmed their unwavering support for Ukraine as it continues to defend against Russia’s aggression.  They discussed the latest developments in the Middle East, the need to reach a diplomatic resolution to the conflict between Israel and Hezbollah that allows civilians on both sides of the Blue Line to safely return to their homes, to ensure civilians – including humanitarians and journalists – are protected, and to address the humanitarian crisis in Gaza, and to achieve a ceasefire deal that secures the release of the hostages.  President Biden underscored the need for increased defense investments to ensure NATO is properly resourced to face tomorrow’s challenges.

Readout of President Joe Biden’s Meeting with Prime Minister Robert Golob of the Republic of Slovenia.

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About Tiff 3140 Articles
Member of the Free Press who is politically homeless and a political junkie.