President Donald Trump announced new Medicare plans on Tuesday to provide diabetic seniors with low-cost insulin.
The president noted that seniors were “getting ripped off” by the high cost of insulin, which would change under his administration.
The president said the new plans would cap out of pocket costs for insulin at $35 a month.
“One of every three seniors on Medicare has diabetes,” Trump said.
The administration estimates that the new plans would reduce insulin costs by 66 percent.
The president blamed former President Barack Obama and former Vice President Joe Biden for messing up the health care system by passing Obamacare.
“In the past, Obamacare prevented insurance providers from competing to offer lower costs for seniors,” Trump said, adding that “Biden is the one who put us into a jam because they didn’t know what they were doing. They were incompetent.”
Several pharmaceutical executives appeared with the president to talk about the new plan, as well as advocates for diabetics.
The president thanked the Center for Medicare and Medicaid Services Administrator Seema Verma for bringing the issue to his attention.
“Others have long talked about lowering the cost of insulin, but President Trump is getting done and putting dollars back in the pockets of our nation’s seniors,” Verma said in a call with reporters before the event.