Opinion: Health care price regulation is undemocratic

The Biden administration recently announced that it will use taxpayer dollars to “stabilize” Medicare Part D (prescription drug coverage) premiums.

These premiums had been remarkably stable since 2010, growing slower than inflation. But in 2025, they are expected to nearly triple. What triggered this drastic premium hike? The $2,000 out-of-pocket spending cap imposed by the Inflation Reduction Act of 2023.