Biden touts savings on insulin, other drugs

WASHINGTON — President Joe Biden pledged Monday that his social agenda legislation would deliver tangible savings on prescription drugs for all Americans. Relief that consumers have clamored for is now in sight, he asserted.

But first the bill has to pass Congress, where plenty of obstacles remain in its path.

Biden tried to shift the focus to pocketbook provisions overlooked in the political machinations over his $2 trillion legislation, which deals with issues from climate to family life and taxes. Even before concerns over rising inflation, polls consistently showed support from Americans across the political spectrum for government action to lower drug costs.

The biggest policy change — a system for Medicare to negotiate prices for prescription drugs — won’t begin to deliver lower costs until 2025, and then only for a selected set of 10 medicines, as well as insulin products.