In a major move to rein in increasing health care costs, the Office of Health Care Affordability’s Board last week voted to cap health care cost increases in California. This nation-leading effort aims to make critical care more affordable for people and is expected to save lives by helping people access the preventative care they need to stay healthy.
Governor Gavin Newsom emphasized that making quality health care affordable is a top priority for his administration. He described this action as a crucial first step forward in efforts to reign in exorbitant health care costs and make health care more accessible and affordable. The 3% cap will be phased in over five years to ensure minimal disruptions and maximum compliance, starting with 3.5% in 2025.
The cost to practice medicine in the United States was projected to increase by 4.6% in the same year, while the money Californians spent on healthcare had been increasing by about 5.4% each year for the past two decades. However, according to the Center for Medicare and Medicaid Services, the cost of naloxone has been reduced by 40% thanks to a partnership between Governor Newsom’s state’s CalRx Naloxone Initiative and Amneal Pharmaceuticals. The cost of naloxone is now just $24 per pack for California’s Naloxone Distribution Project, down from current market prices of around $100 per pack.
These efforts are aimed at making Californians’ lives more affordable and healthier, and Governor Newsom encouraged people to visit the website for more information on this crucial initiative that aims at making quality healthcare affordable for all citizens of California .
