Biden launches health care task force to ease patient costs, fight ‘corporate greed’
The Strike Force on Unfair and Illegal Pricing, co-chaired by Department of Justice and Federal Trade Commission, launched Tuesday and will crack down on unfair and illegal pricing in prescription drugs and health care.
President Biden has taken on the health care industry in his continuing fight against corporate rip-offs.
On Tuesday, the Biden Administration launched the Strike Force on Unfair and Illegal Pricing, co-chaired by the Department of Justice and the Federal Trade Commission. According to the White House, the new task force “will strengthen interagency efforts to root out and stop illegal corporate behavior that hikes prices on American families through anti-competitive, unfair, deceptive, or fraudulent business practices” in multiple sectors — including prescription drugs and health care.
Other task force targets include groceries, financial services, and so-called “junk fees.”
Biden has claimed “unfair” prices and corporate greed are keeping consumers from reaping the benefits of a strong economy and weakening inflation, and it’s a topic Administration officials say the president will address during his State of the Union address Thursday night.
The Strike Force announcement came Tuesday during the sixth formal meeting of the White House Competition Council, a group of top officials throughout the administration tasked with rooting out anti-competitive practices.
“Over the last year, supply chains have returned to normal and inflation has come down,” National Economic Council Director Lael Brainard told reporters Monday. “Some corporations aren’t passing those savings on to consumers … President Biden is fed up with corporate practices that unfairly raise costs for consumers and he’s taking action.”
Already, Brainard noted, the competition council and its members have helped bring down the cost of everything from hearing aids and asthma inhalers to EpiPens and air travel.
In December, the Department of Commerce released a proposed framework providing guidance that agencies can consider price as a factor when determining whether to exercise march-in rights for federally funded inventions connected to prescription drugs. Additionally, the Department of Health and Human Services rejected more than 1,000 Medicare Advantage TV marketing ads in one year that were misleading to consumers and proposed a rule last November that — if finalized — will prohibit insurance companies from paying brokers to steer patients toward certain plans based on compensation, rather than options that meet best patient health needs.
Related: Biden’s pharma fix: New ‘march-in’ rule allows HHS to seize patents of pricey drugs
According to the White House, HHS also:
- Proposed to protect Medicare consumers from third parties selling their information without their consent.
- Took steps to break up the Organ Procurement and Transplantation Network vendor monopoly.
- Launched, with the FTC,a probe into anti-competitive behavior by group purchasing organizations and drug wholesalers that may contribute to generic drug shortages.
- Isseeking input on how the agency can increase transparency and promote competition in Medicare Advantage markets.
A recent KFF poll indicated that 80% of Americans say it’s “very important” for the 2024 presidential candidates to talk about health care — a topic topped only by inflation (83%).