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President Trump and CMS administrator Seema Verma. Photo: Alex Wong/Getty Images

The Trump administration announced Wednesday more changes designed to make Medicare Advantage more appealing and to lower prescription drug costs for seniors.

Why it matters: Although the proposal mainly tinkers around the edges, it could have a meaningful impact on some seniors' pocketbooks while furthering the administration's commitment to Medicare Advantage, a cash cow for insurers.

Details: The proposal aims to create more transparency within Medicare's prescription drug benefit, and to enhance price competition.

  • Beginning in 2022, plans would be required to give beneficiaries tools to compare the out-of-pocket costs of different drugs, which would allow patients to know their drug costs ahead of time and to shop around for the cheapest medications.
  • The proposal also aims to create more price competition among specialty drugs, which tend to be the most expensive drugs on the market.

It also would allow all seniors with end-stage renal disease to enroll in Medicare Advantage, beginning in 2021.

  • Medicare Advantage beneficiaries this year are gaining access to telehealth benefits that aren't available to seniors enrolled in traditional fee-for-service Medicare, and the new proposal would build on these benefits.

Go deeper:

Go deeper

Journalism enters dangerous new era

Illustration: Brendan Lynch/Axios

The Capitol attack on Jan. 6 resulted in at least nine physical assaults against journalists and at least five arrests, per the U.S. Press Freedom Tracker's top editor.

Why it matters: President Trump's harsh rhetoric towards the press has empowered leaders abroad and locally in the U.S. to continue to attack press that they don't like.

Ben Geman, author of Generate
3 hours ago - Politics & Policy

The beginning of the beginning for Biden's climate push

Illustration: Annelise Capossela/Axios

Joe Biden's inauguration and the days right after will bring a rat-tat-tat burst of climate policy moves, but keep this in mind amid the splashy pledges: pushing through most of his agenda will be a long, uncertain slog.

Why it matters: Biden's climate plan is far more expansive than anything contemplated under President Obama. But for all the immediate pledges, it will take years to see how far Biden gets.

Dion Rabouin, author of Markets
4 hours ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.