For Immediate Release:
Contact: Kelly Broadway, 202-808-8853
kelly.broadway@cahc.net
Washington, D.C. – Tonight, President Biden heralded his efforts to address rising healthcare costs, but his latest policies will cripple employers and unions by raising premiums.
Biden promised lower drug costs but delivered higher premiums, 22 percent in 2024. His $2000 cap on costs will raise premiums on union workers, sending them into ACA plans where they will pay $5,000 out of pocket before seeing any benefit.
Additionally, the idea of increasing the IRA’s drug price negotiations to 500 drugs over the next ten years will exacerbate the drug shortage and drastically reduce the investment into new treatments.
This unserious approach to the real problems of higher health care costs is merely government-run health care cloaked in the false promise of lower prices and better care. The American people deserve better.