Biden Touts Reduction of 2023 Medicare Fees, Due Largely to Limiting of Alzheimer’s Drug

President Joe Biden holds up a piece of paper he says highlights a plan by Sen. Rick Scott (R-Fla.) while delivering remarks about lowering health care costs in the Rose Garden at the White House on Sept. 27, 2022. Chip Somodevilla/Getty Images

President Joe Biden on Tuesday touted a decline in costs for tens of millions of Americans covered by the Medicare health program as the country continues to battle with soaring inflation, stating that the “American people won, and Big Pharma lost.”

Monthly premiums for Medicare Part B will drop by $5.20 for an annual savings of about $62.