Prescription drug costs

President Joe Biden urged lawmakers Thursday to pass the Inflation Reduction Act of 2022, a bill which would offer inflation relief and invest in energy security and climate change programs.

Democrats plan to submit a “finalized agreement” on allowing Medicare to negotiate prices with pharmaceutical companies to a key Senate official “in the coming days” to see if it complies with the chamber’s strict budget rules, one of the sources said.

A proposal that would have let Medicare negotiate the price of certain drugs was part of the Build Back Better Act, which died in the Senate late last year.

As the U.S. economy has rebounded, more aid to Americans will likely be scaled down. Here’s what proposals could still get passed by Congress.

Some lawmakers and Social Security advocates are hoping to change the way the program’s annual cost-of-living adjustments are calculated.

With annual adjustments pushing some costs higher, experts say it’s important to consider how the changes will affect your household spending.

Medicare provisions in the $1.75 trillion legislative package are in jeopardy, given the likelihood that the bill will not pass in its current form.

Inflation is currently outpacing Social Security’s 5.9% cost-of-living adjustment for 2022. Medicare Part B premiums may take a bigger chunk of benefit checks.

While the bill is not a done deal, the House passage means provisions to improve Medicare are a step closer to becoming law.

Prescription drug plans are modified every year, meaning your premiums, deductibles and the cost of specific medicines could be changing.

While adding hearing services to Medicare would plug one coverage hole, there are others that enrollees should prepare themselves for.

The Medicare-related provisions are part of Democrats’ legislative plan to strengthen the social safety net.

If you’re among those in the 65-and-older crowd who struggle to pay their health care expenses, there may be a Medicare plan that could help lower the cost.

The $1.75 trillion framework issued Thursday would expand insurance subsidies, add Medicare hearing coverage and improve access to homecare.

With the specifics of Medicare health plans changing from year to year, not checking to see if there’s a better option can be a costly mistake.

As older Americans find their money is not going as far amid high inflation and the Covid-19 pandemic, one group plans to ask Congress to step in and help.

Democrats’ $3.5 trillion spending plan calls for reducing Medicare drug costs, which may involve letting the government negotiate pharmaceutical prices.

On Thursday, President Biden called on Congress to work to lower the cost of prescription drugs in the U.S. by allowing Medicare to negotiate prices directly, among other measures.

Insulin has become a focal point in lawmakers’ debate over the soaring price of drugs that many Americans rely on.