President Biden has confirmed negotiations with pharmaceutical companies to lower the costs of medications under the Medicare program

AP

President Joe Biden's administration has announced that it will include several medications, including the anticoagulant Eliquis and the diabetes drug Jardiance, in the initial price negotiations conducted by the Medicare program to reduce healthcare costs for beneficiaries of the senior assistance program.

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This move is part of the Biden administration's efforts to address the high costs of medications in the United States. The list of 10 prescription drugs that will be subject to direct negotiations with manufacturers includes treatments for various medical conditions.

The aim of these negotiations is to lower costs for patients, but this initiative has faced criticism from the pharmaceutical industry and political challenges. 

While President Biden seeks to highlight his efforts to reduce healthcare prices, the outcomes of these negotiations may take time to reflect in consumers' wallets.

The Biden administration has also proposed increasing taxes on the wealthy to fund the Medicare program and extend the solvency of the senior health insurance program. 

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This measure aims to raise the Medicare tax rate for those earning over $400,000 per year as part of an effort to redistribute the tax burden and finance healthcare programs.

The issue of healthcare and medication costs is a significant topic on the U.S. political agenda, and the actions and proposals of the Biden administration seek to address these issues and provide relief to patients and healthcare program beneficiaries such as Medicare.