Health costs have significantly skyrocketed over the years, increasing the need for governments to make policy changes to cater to the challenge of unaffordable healthcare. Joe Biden’s proposal to introduce a public health insurance program during his campaign led to multiple expectations for healthcare under his presidency.
Here’s what Americans should look forward to during Biden’s presidential tenure.
A Well-Developed COVID-Response
The 2020 presidential election significantly focused on American and global healthcare, primarily due to the COVID-19 pandemic. Joe Biden understood the country’s challenges due to COVID-19 under the Trump presidency and pledged to employ a unique COVID-response method under his administration.
In other words, one can expect Biden’s COVID response to be based on transparency and scientific facts instead of myths and misconceptions. The president has now successfully formed a COVID-19 advisory board to develop a viable action plan to tackle the pandemic with a significant emphasis on wearing masks and implement social distancing everywhere.
Today, American healthcare has sufficient resources such as PPE, testing devices, and masks for rapid COVID-19 testing and has now successfully administered millions of vaccinations among US citizens.
Affordable Care Act (ACA)
The Affordable Care Act was introduced in the USA under Obama’s presidency. Biden aims to carry on his legacy and intends to use this act to provide insurance to more than 97% of Americans. He plans to decrease healthcare coverage costs from 9.86% to 8.50% and completely eradicate the massive 400% income requirement on healthcare eligibility. Furthermore, his website also mentions his plan to increase ACA tax credit values.
It’s safe to say that the implementation of Biden’s tax credit increment with ACA would play a critical role in helping insured patients save at least a hundred dollars every month. According to the Kaiser Family Foundation, the ACA can empower more Americans to medical marketplaces to access healthcare and medication.
Reduced Prescription Drug Costs
A significant CFO one can expect under the Biden presidency is eradicating surprise medical bills and reducing prescription drug costs. Both Republicans and Democrats support the idea of lowering medication costs. In fact, Trump also signed a few executive orders in his presidency to reduce the costs of American drugs overseas and receive rapid medication imports from Canada.
Joe Biden plans to decrease prescription medication costs by developing a Medicare plan that offers massive discounts on crucial prescription drugs.
If you’re a low-income individual without healthcare insurance in the United States, feel free to enroll in our prescription assistance program at Advocate My Meds. We’re a leading full-service prescription assistance organization, helping people finance their medication by collaborating with leading pharmaceutical organizations like Pfizer, Bristol, Sanofi, Merck, Janssen, and more. Contact us to learn more today!