spot_imgspot_img

Biden’s plan to cover anti-obesity drugs could cost $140 billion

spot_img

(The Center Square) — President Joe Biden’s plan to authorize Medicare and Medicaid cover anti-obesity medications starting in 2026 would $140 billion over the next decade.

That’s according to latest figures from the Penn Wharton Budget Model, a nonpartisan research group that provides cost estimates of public policy proposals.

Biden’s new proposal would significantly expand access to anti-obesity drugs such as Ozempic and Wegovy. Without insurance coverage, the drugs can cost as much as $1,000 a month.

Lawmakers previously prohibited Medicare from paying for weight loss drugs unless those drugs are used to treat diabetes or manage heart disease risks.

Biden’s proposal would expand access to medications for obesity. The White House said it would help an estimated 3.4 million Americans with Medicare and about 4 million adult Medicaid enrollees.

Coverage would come at a cost, according to the Penn Wharton Budget Model.

“PWBM estimates that the proposed rule change would increase Medicare outlays by $55.5 billion over the 10-year budget window and Medicaid outlays by $84.2 over the same period,” the group estimated.

The proposal requires a 60-day public comment period before it can go into effect, meaning it would be up to the incoming Trump administration to complete it.

Medicare provides federal health insurance for people 65 or older, and some people younger than 65 with certain disabilities or conditions. Medicaid is a joint federal and state program that helps cover medical costs for some low-income people.

DON’T MISS OUT

Be the first to know about the latest news, giveaways, events, and updates from The Black Chronicle!

We don’t spam! Read our privacy policy for more info.

spot_img
spot_img

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

The Melanin Effect: The Ignorance That Puts Millions Of Americans In Danger

Scientific research is becoming more inclusive, but one area...

The Truth About PCOS: Birth Control, Infertility, And Gaps In Research

Polycystic ovarian syndrome affects at least one in ten...

Appeals Court upholds TikTok sale or ban law

A federal appeals court upheld the law ordering China-based...

Spokane props up homeless dashboard showing how many leave shelter, exit services

(The Center Square) – Spokane launched a new homelessness...

Reports agree: Louisiana faces unfunded liabilities in pension system

(The Center Square) — Separate studies have come to...

Sonya Massey’s family urges Illinois courts to keep accused killer jailed pretrial

(The Center Square) – Family and supporters of Sonya...

Hunter Biden pardon may pave the way for Trump pardons

President Joe Biden’s controversial pardon of his son Hunter...

More like this
Related

The Melanin Effect: The Ignorance That Puts Millions Of Americans In Danger

Scientific research is becoming more inclusive, but one area...

The Truth About PCOS: Birth Control, Infertility, And Gaps In Research

Polycystic ovarian syndrome affects at least one in ten...

Report: average American household has more than $10,000 in credit card debt

A new study of Americans credit card debt finds...

Appeals Court upholds TikTok sale or ban law

A federal appeals court upheld the law ordering China-based...