The daily business briefing: August 19, 2022

The Biden administration moves toward shifting COVID shot costs to insurers, Bed Bath & Beyond shares dive after activist investor sells stake, and more

A Bed Bath and Beyond store
(Image credit: Justin Sullivan/Getty Images)

1. Biden administration prepares to shift COVID treatment costs to insurers

The Biden administration is preparing to stop paying for COVID-19 shots and treatments as cases drop and pandemic funding runs low, The Wall Street Journal reported Thursday. The Biden and Trump administrations always planned to shift control and responsibility for coverage to the health-care industry, said Dawn O'Connell, assistant U.S. health secretary for preparedness and response. "We've known at some point we'd need to move over into the commercial market, and we're approaching that time now." The transition could take months. The Department of Health and Human Services has scheduled an Aug. 30 planning session that will include drugmakers, pharmacies, and state public health officials.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us