According to the Wall Street Journal, the Biden administration is all set to unveil a plan which will support legislation to empower the U.S. federal government to negotiate drug prices in Medicare and also to  pass along the benefits to the private sector, as reported on Thursday.

The COVID-19 outbreak, that has upended the U.S. economy and has so far killed about 649,299 people in the country, has drawn renewed attention to healthcare costs.

In August, President Biden said U.S. prescription drug costs were two to three times higher than other nations in the world, while urging lawmakers to enact legislation to lower drug prices.

The U.S. Medicare program is a health insurance program for those with disabilities and for the people aged 65 and above.

The plan, to be released later on Thursday, will back legislation aimed at lowering drug prices put forth by congressional Democrats, the WSJ report said.

It will also outline other administrative measures such as testing reimbursement for drugs in Medicare based on the clinical value they provide to patients and federal funding for research into new treatments, the report said.