Millions more Americans might get access to GLP-1 drugs
A new proposal by the Biden administration would see obesity drugs covered more widely.
Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet as of late.
The Dow and the S&P five hundred closed at fresh record highs on Tuesday as investors tried to make a choice winners and losers in Donald Trump’s tariff plans. On the commercial front, New homes sales dropped in October to a 2-year low. Sales were hurt by hurricane activity the full way through the South. The median sales price rose to $437,300.
Wednesday’s main event is likely to be the release of the PCE index, which is the Federal Reserve’s most well known inflation gauge.
Related: Crazy-expensive weight reduction drugs may soon see a prime change
In other news, The Biden Administration is set to introduce a change that can impact more than 7 million people covered by Medicare and Medicaid.
Less than a new proposal, GLP-1 weight-loss drugs like Wegovy will likely be covered by the federal government-backed medical insurance coverage. This decision, if approved, would delay a prohibitive cost barrier since these drugs don't seem to be covered by insurance and may cost as an awful lot as $1,000 a month.
If Medicare and Medicaid were to cover these weight-loss stimulants, that would open the door for private insurers to do the same for all Americans with medical insurance. Currently, most effective GLP-1s prescribed to treat type 2 diabetes, comparable to Ozempic and Mounjaro, are covered by insurance coverage.
There's a value, nevertheless, to this expansion. The Centers for Medicare and Medicaid Products and services estimates the coverage would cost the federal government $36 billion over a decade. The Trump administration has to approve this rule change once it truly is miles in office.
That’ll do it for your On every day basis Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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