Biden Targets “Junk” Insurance, Pledging to Protect Consumers and Their Finances

by Lucas Garcia
healthcare affordability

President Joe Biden unveiled a series of new measures on Friday aimed at lowering healthcare expenses. These initiatives include cracking down on what he refers to as “junk” insurance plans that exploit consumers, issuing guidelines to prevent surprise medical bills, and addressing the issue of medical debt linked to credit cards.

Building on his previous endeavors to control healthcare costs, President Biden’s Department of Health and Human Services released fresh estimates revealing that approximately 18.7 million older adults and other Medicare beneficiaries are projected to save around $400 per year on prescription drug expenses by 2025. This significant reduction is attributed to the president’s implementation of an out-of-pocket spending cap as part of last year’s Inflation Reduction Act.

As the issue of inflation continues to concern voters, President Biden, who is preparing for his 2024 reelection campaign, has emphasized his policies aimed at helping families manage their finances. He has also introduced a range of government incentives to encourage private sector development in electric vehicles, clean energy, and advanced computer chips.

In other news:

  • The harassment faced by TV meteorologists reflects broader anti-science and anti-media trends.
  • Farmworkers on the front lines of a warming Earth are experiencing increased stress due to climate change.
  • Beloved distillers in the whiskey and bourbon business are facing criticism regarding taxes and emissions.
  • Prominent Republicans are preparing to investigate the Hunter Biden case.

Republican lawmakers have criticized President Biden’s policies, arguing that they have contributed to rising prices that negatively impact families’ well-being.

President Biden explained that his administration is targeting “junk” insurance plans, specifically short-term policies that offer limited coverage during transitions between employers when individuals require temporary healthcare coverage. The proposed rules aim to eliminate loopholes that allow insurers to discriminate based on pre-existing conditions and market plans with minimal or no coverage to consumers.

“In America, fairness is something we all expect,” President Biden stated. “I don’t know anyone who wants to be taken advantage of.”

To highlight the importance of these initiatives, President Biden invited Cory Dowd to share his story at a White House event. Dowd, who purchased a high-deductible health care plan in 2019 before starting graduate school, faced financial and emotional distress when his insurer only covered a fraction of his emergency surgery bill, leaving him with a significant out-of-pocket expense of over $37,000. The insurer eventually relented after his situation received media attention.

President Biden also announced new guidelines regarding medical billing, stemming from the No Surprises Act of 2020. These guidelines will limit the ability of insurers to claim that provided care was out of network, thereby preventing customers from being charged extra. Health plans will also be required to disclose facility fees, which often catch patients off guard as an unexpected expense on their medical bills.

“That’s not health insurance,” President Biden emphasized. “It’s a scam that needs to be stopped.”

Additionally, the Consumer Financial Protection Bureau and the Treasury Department are seeking information on third-party credit cards and loans specifically used for healthcare payments. The high costs and interest rates associated with these financial products often discourage individuals in need of treatment from seeking care.

During his speech, President Biden also highlighted previous efforts to reduce healthcare costs, including allowing Medicare to negotiate lower prices for prescription drugs and implementing a $35 monthly cap on insulin prices for individuals enrolled in Medicare Part B.

Frequently Asked Questions (FAQs) about healthcare affordability

What are the initiatives announced by President Biden to reduce healthcare costs?

President Biden has introduced several initiatives to address healthcare costs. These include cracking down on “junk” insurance plans, issuing guidelines to prevent surprise medical bills, and efforts to reduce medical debt tied to credit cards. The aim is to protect consumers and improve affordability in healthcare.

How will the crackdown on “junk” insurance plans benefit consumers?

The crackdown on “junk” insurance plans aims to eliminate loopholes that allow insurers to offer plans with limited coverage or discriminate based on pre-existing conditions. By closing these loopholes, consumers will have access to more comprehensive coverage and won’t be taken advantage of by deceptive insurance practices.

What is the purpose of the guidelines on surprise medical bills?

The guidelines on surprise medical bills aim to address the issue of unexpected and often exorbitant charges that patients face when receiving medical care. Insurers will be limited in their ability to claim that provided care was out of network, ensuring that customers are not burdened with additional expenses. This will provide greater transparency and protection for patients.

How does President Biden plan to reduce medical debt tied to credit cards?

President Biden’s plan includes efforts to address the medical debt that individuals incur and struggle to pay off, particularly when using credit cards. By seeking information on third-party credit cards and loans specifically used for healthcare payments, the aim is to identify ways to alleviate the financial burden on patients and encourage them to seek necessary treatment.

What other measures has President Biden taken to reduce healthcare costs?

President Biden has implemented various measures to address healthcare costs. These include allowing Medicare to negotiate lower prices for prescription drugs and implementing a cap on out-of-pocket spending for Medicare beneficiaries. These efforts, along with the latest initiatives, demonstrate a commitment to making healthcare more affordable and accessible for all.

More about healthcare affordability

You may also like


CareBear22 July 8, 2023 - 12:56 pm

omg surprise medical bills are the worst! i had to pay sooo much for a simple procedure. glad biden is crackin down on those greedy insurance companies. bout time!

FreeSpirit23 July 8, 2023 - 6:13 pm

i didnt even know there were “junk” insurance plans out there. glad biden is callin them out and closin the loopholes. we deserve better coverage without bein played as suckers.

HealthcareWarrior July 8, 2023 - 6:42 pm

this is a step in the right direction to make healthcare more affordable and protect consumers. junk insurance and surprise bills have been causing so much stress and financial burden. thank you, president biden!

Joe123 July 8, 2023 - 9:06 pm

biden knows what hes doin playin with the suckers insurance. finally someone standin up for the people. no more junk insurance takin our money!

InformedCitizen July 9, 2023 - 2:18 am

the initiatives by president biden show a commitment to addressin healthcare costs and protectin consumers. it’s great to see efforts to make healthcare more transparent and affordable. hope these changes make a real difference!


Leave a Comment


BNB – Big Big News is a news portal that offers the latest news from around the world. BNB – Big Big News focuses on providing readers with the most up-to-date information from the U.S. and abroad, covering a wide range of topics, including politics, sports, entertainment, business, health, and more.

Editors' Picks

Latest News

© 2023 BBN – Big Big News