Biden’s 2024 Turnaround: Major Health Care Overhaul with Drug Price Reforms

President Biden is gearing up to introduce a comprehensive health care package that aims to reduce prescription drug prices and expand the Affordable Care Act—a cornerstone of his 2024 turnaround strategy. This initiative builds on previous measures, including those outlined in the Inflation Reduction Act, and comes at a time when public debate contrasts his approach with former President Donald Trump’s calls to repeal and replace the ACA.

Recent reports have underlined the potential impact of such measures. For example, a Reuters article from August 28, 2024, indicated that a $2,000 cap on out-of-pocket prescription costs could save US seniors over $1,000 a year starting in 2025. Biden’s proposals, which were also highlighted during his March 2024 State of the Union address and in accompanying White House fact sheets, promise to make health care more affordable for all Americans while reinforcing his commitment to expanding access and lowering costs.