President Biden’s Plan to Expand Medicare and Medicaid Coverage for Weight-Loss Medications
President Joe Biden is set to introduce a new rule that would require Medicare and Medicaid to provide coverage for weight-loss medications. This move, aimed at tackling obesity, could cost the two federal programs a total of $36 billion over the next decade.
Expanding Access to Anti-Obesity Drugs
The proposed rule would significantly increase access to medications such as Ozempic and Wegovy, which can cost up to $1,000 a month without insurance coverage. Previously, Medicare only covered weight loss drugs for diabetes or heart disease risks.
The White House cited statistics showing that 42% of the U.S. population suffers from obesity, a chronic disease associated with various health risks. The new proposal aims to help an estimated 3.4 million Medicare beneficiaries and 4 million adult Medicaid enrollees.
According to a statement from the White House, the goal is to empower Americans and their healthcare providers to make informed decisions about their health without financial barriers.
Financial Implications and Public Response
Under Biden’s plan, the federal government would cover most of the costs, with Medicare facing $25 billion and Medicaid $11 billion over the next decade. However, concerns have been raised about the potential impact on Medicare premiums and overall healthcare costs.
While some lawmakers like U.S. Rep. Wiley Nickel have praised the move for its potential to improve lives and reduce healthcare expenses, others like U.S. Sen. Bernie Sanders have urged caution. Sanders emphasized the need for pharmaceutical companies to lower drug prices to ensure affordability for seniors and taxpayers.
Final Thoughts
The proposal is currently open for a 60-day public comment period before it can be implemented. The debate surrounding the expansion of coverage for weight-loss medications highlights the ongoing challenge of balancing healthcare access with cost considerations.
Ultimately, the decision on whether to proceed with the plan will rest with the incoming administration, with the potential to impact millions of Americans relying on Medicare and Medicaid for their healthcare needs.
Syndicated with permission from The Center Square.
