US administration announces plan to cut Medicaid prescription drug prices
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The White House announced a plan on the 18th to lower prescription drug prices for Medicaid, the health insurance program for low-income Americans. The aim is to ease the fiscal burden on state and federal governments, and with November's midterm elections approaching and the cost of living a key issue, there appears to be an intent to appeal to voters. According to the announcement, all 50 states, the capital Washington, and the US territory of Puerto Rico will take part in the plan, and the White House expects it to lead to $64.3 billion in healthcare savings over the next 10 years. President Trump asserted that his administration has worked intermittently on measures to lower drug prices, and said that in the future "the price we pay will be the lowest in the world."