Biden Should Propose a National Prescription Drug Program
Medicare Part D for All!
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The past two weeks have been disastrous for Democrats. After President Biden’s weak performance in his debate against Donald Trump, turmoil has engulfed the Democratic Party. Many Democrats are split on whether Joe Biden should be replaced as the nominee, and even some Congressional Democrats, publicly and privatively, have called for him to step aside. This entire ordeal has left the Democratic party in a vulnerable position heading to November, thereby risking another Donald Trump presidency. Democrats need to regroup and focus on their greatest strength: policy. While disjointed at times, Democrats have passed significant pieces of legislation in President Biden’s first term. Additionally, President Biden and Democrats have some policy proposals for the next term. However, they have been buried in party documents and received little media coverage, especially since the debate.
It is imperative for Democrats not only to effectively communicate their current proposals to the public but, as Bernie Sanders has recently advocated, to introduce highly popular policies that help all American families if they are to win in November.
A few months ago, a poll by YouGov asked American voters whether they approved of different policy proposals.
At the top are proposals to rein in junk and late fees from businesses, which the Biden Administration has attempted to do in recent months. In addition, many of the proposals that also enjoy high levels of support involve lowering the costs of prescription drugs. These proposals include:
Increasing the number of prescription drugs that Medicare can negotiate.
Lowering prescription drug prices comparable to other countries.
Capping the cost of insulin to $35 a month for everyone.
Capping prescription drug costs at $2,000 per year for all Americans.
The Inflation Reduction Act made some progress on these issues, specifically for seniors. Medicare can now negotiate the price of certain drugs; the cost of insulin is capped at $35 a month and a $2,000 annual cap on out-of-pocket spending will begin in 2025. However, Americans are clearly in favor of expanding those benefits to Americans of all ages as well as bringing prescription drug costs down. This begs the question: how can Democrats extend these wildly popular policies to all Americans? The simplest answer is to create a national prescription drug program. The structure of this program could be as follows:
The program could be established within Medicare by expanding Medicare Part D to Americans of all ages. Additionally, the new program would negotiate the price of all prescription drugs. The criteria for negotiations could be the same as the Elijah E. Cummings Lower Drug Costs Now Act, which ensures the negotiated price never exceeds 120% of the average price in Australia, Canada, France, Germany, Japan and the UK. Each prescription could have a 10% coinsurance, with low-income Americans of all ages who meet Medicare’s “Extra Help” criteria being exempt from any cost-sharing. The program would cap insulin at $35 a month and total out-of-pocket spending annually at $2,000 (or $167 per month) for everyone. Further measures, including allowing the Department of Health and Human Services to produce generic drugs and allow further importation of FDA-approved drugs from other countries, would also lower consumer costs.
A national prescription drugs program would implement all four policy proposals that American voters widely support. As a result, the program would significantly reduce national healthcare spending by lowering drug prices for the government while also saving the average American family hundreds of dollars every year. Additionally, the program could be passed using reconciliation, bypassing the filibuster and thus making it easier to pass into law. It would also reduce the cost of public and private health insurance, as they would no longer need to cover prescription drugs, saving the government and households money. Finally, the program could be financed using a combination of President Biden’s tax proposals, many of which are highly progressive.
This is just one example of a new policy proposal that would be incredibly popular with American voters. Introducing this program alongside other popular policies and actively promoting them to the public would help show American voters the Democratic Party’s vision for the country going forward, a vision that is in clear contrast with the dystopic Project 2025.
Democrats must reach a consensus on who will be at the top of the Democratic ticket come November. Once they do, policy must be the dominating factor throughout the rest of the election season. If Biden remains the nominee, pivoting towards popular policy ideas can help shift the narrative and rebuild support. If he is replaced, his successor will need a policy agenda that excites the Democratic base and swing voters.
Democrats did a poor job in 2016 of presenting a policy agenda to the American people, which can partially explain Donald Trump’s victory. Failure to do so again may result in him returning to the White House, a dangerous prospect they cannot allow to materialize. Democrats must present a transformative vision for the country that inspires voters and pushes back against Republicans’ authoritarian agenda. It may be the only way at this point to save our democracy.