The White House has released new information showing how President Biden’s prescription drug law is lowering healthcare costs and prescription drug prices for seniors across the country. The Biden-Harris administration has taken on special interests to finally lower prices for Americans, and their efforts, they say, are already paying off.
Millions of seniors are saving hundreds of dollars each year due to the Inflation Reduction Act, which allows Medicare to negotiate lower prescription drug prices, caps the cost of insulin at $35, and makes recommended vaccines free for Medicare beneficiaries.
The Department of Health and Human Services has released a new report stating that 3.4 million people with Medicare could save an average of $70 per year due to the Inflation Reduction Act, making recommended Part D vaccines free for beneficiaries. In addition, HHS has announced the first set of Part B prescription drugs that will be subject to Medicare inflation rebates, putting money back into seniors’ pockets, starting in April.
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