Biden Budget Targets Drug Pricing, Enhanced ACA Subsidies, Mental Health Coverage

Although the Inflation Reduction Act (IRA) enacted significant health care provisions, such as giving Medicare the authority to negotiate prices for select prescription drugs and temporarily extending enhanced premium tax credits for Affordable Care Act plans, President Joe Biden in his fiscal year 2024 budget proposal made it clear that those and other health reforms don’t go far enough.

However, the health care industry will have to wait for more granular details about, for example, how many more drugs Biden plans to add to the price-negotiation list, HHS officials indicated during a May 9 call with reporters. And Biden must also convince a divided Congress to put his proposals into legislation.

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Leslie Small

Leslie Small

Leslie has been working in journalism since 2009 and reporting on the health care industry since 2014. She has covered the many ups and downs of the Affordable Care Act exchanges, the failed health insurer mega-mergers, and hundreds of other storylines spanning subjects such as Medicaid managed care, Medicare Advantage, employer-sponsored insurance, and prescription drug coverage. As the managing editor of Health Plan Weekly and Radar on Drug Benefits, she writes and edits for both publications while overseeing a small team of reporters who also focus on the managed care sector. Before joining AIS Health, she was a senior editor for the e-newsletter Fierce Health Payer, and she started her career as a copy editor at multiple local newspapers. She graduated with a dual degree in journalism and political science from Penn State University.

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