President Biden talks healthcare, taxes in State of the Union: 5 notes for ASCs

President Joe Biden delivered the State of the Union address on Feb. 7, and healthcare was among the central themes.

Here are five takeaways for ASC owners and administrators:

1. Prescription drug costs: Mr. Biden said his administration has been committed to lowering prescription drug costs and allowing Medicare to negotiate drug prices to save billions of dollars. He aims to keep it that way. "Make no mistake, if you try to do anything to raise the cost of prescription drugs, I will veto it," he said.

2. Medicaid expansion: Mr. Biden encouraged permanently expanding Medicaid coverage; millions are set to lose coverage in 2025.

3. Taxes: Mr. Biden committed to not raising taxes for individuals making less than $400,000, but his plan does set a 15 percent minimum tax rate for billionaires.

4. Surprise Billing: Mr. Biden said laws banning surprise bills have prevented 1 million surprise medical bills per month.

5. Noncompete agreements: Mr. Biden held firm on his administration's position against noncompete agreements. "We're banning those agreements so companies have to compete for workers and pay them what they're worth," he said.

Read the full transcript of Mr. Biden's speech here.

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