Statement by President Joe Biden Marking the 57th Anniversary of Medicare and Medicaid
Today is the 57th anniversary of Medicare and Medicaid – two programs that have given millions of Americans the security and dignity of affordable health care coverage. Nearly 140 million Americans benefit from these programs, including millions of seniors, pregnant women, families, and people with disabilities.
Republicans in Congress are proposing to put Medicare and Medicaid on the chopping block every five years – meaning 140 million Americans would lose the peace of mind of knowing they have access to affordable health care.
Congressional Democrats and I are fighting to strengthen these programs, so no American has to face a choice between health care and putting food on the table. The Inflation Reduction Act of 2022 will keep the Affordable Care Act improvements under the American Rescue Plan that have saved 13 million Americans an average of $800 per year on health insurance premiums, and will protect 3 million Americans from becoming uninsured. It will also allow Medicare to negotiate a better deal on prescription drugs – lowering costs for potentially millions of seniors and other beneficiaries. And, this legislation caps out-of-pocket drug costs at $2,000 per year, saving Medicare beneficiaries with cancer and other chronic illnesses thousands of dollars annually. For decades, Congressional Democrats have been fighting for this – and we are poised to come together and get it done.
Today, as we recognize the anniversary of Medicare and Medicaid, Congress has an opportunity to make history and strengthen the health and financial security of millions of Americans. I urge Congress to pass the Inflation Reduction Act quickly, so we can lower health care costs for millions of Americans.