President Obama is happy with the agreement that has been made between Montana Senator Max Baucus and several pharmaceutical companies to reduce the costs of prescription drugs for senior Americans, according to the Associated Press. The deal would allow millions of seniors to receive discounts on the drugs they are required to take sometimes daily, usually costing them heavy out-of-pocket fees. Now, the drug companies will pay for half the cost on brand-name drugs not covered by Medicare that falls between $2,700 and $6,153.75 per year. President Obama will sign the legislation into law in October.
“We are at a turning point in America’s journey toward health care reform,” said President Obama. “Key sectors of the health care industry acknowledge what American families and businesses already know that the status quo is no longer sustainable. This is a tangible example of the type of reform that will lower costs while assuring quality health care for every American.”—WLW
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