Say what you will about the economy. And his foreign policy. And his age. And all the rest of his baggage.
But whether Joe Biden is re-elected or not, his healthcare policy changes will be remembered for decades to come.
Yes, there are still humongous challenges, like the expunging of millions of Medicaid (i.e. low income) enrollees for the first time since 2020, after a pandemic policy meant to prevent vulnerable people from suddenly losing health coverage expired earlier this spring when the U.S. declared an official end to the Covid-19 public health emergency, to name one.
But Biden’s laser focus on increasing access to healthcare and lowering healthcare costs may truly be his lasting legacy. Firstly, there is the Inflation Reduction Act, which has sweeping healthcare implications for tens of millions of Americans, including capping insulin costs at $35 per month, lowering Medicare Part D prescription drug costs, and making adult vaccines available at no cost. But two pillars of the Inflation Reduction Act on their own are potentially seismic in their impact on healthcare costs if they are implemented and enforced as expected: allowing Medicare to negotiate directly with participating drug companies to improve access to innovative treatments for people with Medicare and lower costs for the Medicare program; and requiring drug companies that raise their drug prices faster than the rate of inflation to pay Medicare a rebate.
