Limited Applause for Biden’s Popular Medicare Drug Price Negotiation Policy

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While President Joe Biden has been actively promoting Medicare’s newfound authority to directly negotiate prescription drug prices with pharmaceutical companies, public sentiment indicates that the policy’s broad approval has not significantly improved Biden’s own political standing.

According to a recent survey by The Big Big News-NORC Center for Public Affairs Research, 76% of Americans are in favor of empowering Medicare to negotiate drug prices. This sentiment is shared across party lines, with 86% of Democrats and 66% of Republicans expressing approval. However, despite this widespread support, Biden’s overall approval ratings have remained stagnant at 40%.

Moreover, public opinion on Biden’s management of prescription drug pricing is divided, with 48% approving and 50% disapproving. The division is evident among party lines as well, with 70% of Democrats approving of Biden’s handling of this particular issue, in contrast to a mere one-third of independents and a quarter of Republicans.

Notably, even among those who are in favor of the Medicare negotiation policy, the President’s handling of the issue garners lukewarm approval. Just 55% of these supporters approve of Biden’s actions, while 43% disapprove. Interviews with voters across the political spectrum suggest an appetite for more aggressive action by the federal government to negotiate drug prices and lower healthcare costs.

This disconnect between policy approval and presidential approval poses a challenge for Biden as he prepares for his reelection campaign, where he aims to showcase legislative accomplishments as evidence of effective leadership.

Esperanza Baeza, a teacher’s assistant in Chicago, mentioned her concerns about the affordability of medication, even while appreciating the new Medicare negotiating powers. Ellen Daily, a 73-year-old retiree in Texas, felt that the negotiations should be more extensive, covering more than just 10 specific drugs.

This policy shift is part of the Inflation Reduction Act, a legislative package focusing primarily on climate change and healthcare, which was enacted last year. It has been announced that the first 10 drugs subject to negotiation include Eliquis, a blood thinner, and Jardiance, a diabetes treatment.

Despite this step forward, challenges persist. The Pharmaceutical Research and Manufacturers of America have already filed a lawsuit against the administration, aiming to stop the implementation of the new policy. Meanwhile, the Centers for Medicare and Medicaid Services plan to incrementally add more drugs to the negotiation list in the coming years.

Annie Lok, a healthcare worker in Queens, New York, expressed the need for broader action, stating that the negotiations should extend to almost all prescription drugs, not just a select few.

The President has also acknowledged some messaging challenges, particularly around the Inflation Reduction Act, emphasizing that the law contains several other important provisions beyond reducing drug prices. Among these are a cap on annual out-of-pocket drug expenses for Medicare beneficiaries starting in 2025, and an immediate cap on insulin costs to $35 per month for Medicare recipients.

The aforementioned poll, conducted between September 7-11, 2023, involved 1,146 adults and has a margin of sampling error of plus or minus 3.9 percentage points.

Frequently Asked Questions (FAQs) about Biden’s Medicare drug price negotiation policy

More about Biden’s Medicare drug price negotiation policy

• The Big Big News-NORC Center for Public Affairs Research
• Inflation Reduction Act
• Pharmaceutical Research and Manufacturers of America