Biden’s Medicare drug price plan is good medicine for Americans

The federal government operates three gigantic systems providing health care to millions of Americans. The VA takes care of veterans, Medicaid (whose costs are shared with states and localities) is coverage for the poor and Medicare is health insurance for seniors and people with disabilities. The VA and Medicaid can, and do, negotiate with suppliers on drug prices, just like they negotiate payment levels for other health services. Yet Medicare, which sets the reimbursement rates for doctors and hospitals, is barred by federal law from negotiating on drugs. That’s the doing of the well-heeled ...