Biden Proposes Medicare Coverage for Anti-Obesity Drugs

President Joe Biden has proposed expanding Medicare and Medicaid coverage for anti-obesity drugs to over 7 million Americans. This could significantly reduce out-of-pocket costs for weight-loss medications. The proposal faces potential hurdles with the incoming administration's stance and economic implications.

In a bold healthcare strategy announced Tuesday, President Joe Biden proposed extending Medicare and Medicaid coverage to encompass anti-obesity drugs such as Novo Nordisk's Wegovy. The proposal aims to ease financial strain on more than 7 million Americans, cutting out-of-pocket costs by up to 95% and broadening access to these life-altering medications.

The plan requires approval from the incoming Trump administration, where skepticism lingers. Key figures like Robert F. Kennedy Jr. and Dr. Mehmet Oz will influence the decision. Critics fear the proposal's demise given prior efforts to curb drug prices appeared neglected.

This initiative estimates a $35 billion increase in federal spending over eight years. It's framed amid Biden's broader policy to reduce healthcare costs, challenging big pharmaceutical with price negotiations as a legislative agenda centerpiece.

(With inputs from agencies.)