06:01 AM EST, 11/26/2024 (MT Newswires) -- The White House said Tuesday it is proposing a new rule to expand coverage of anti-obesity and diabetes medications made by companies such as Novo Nordisk ( NVO ) and Eli Lilly ( LLY ) for Americans with Medicare and Medicaid.

The new proposal would expand coverage that already includes diabetes and other illnesses, to include obesity, reducing out-of-pocket costs by as much as 95%, the White House said.

"This proposal would allow Americans and their doctors to determine the best path forward so they can lead healthier lives, without worrying about their ability to cover these drugs out-of-pocket, and ultimately reduce health care costs to our nation," the White House said.