When the Affordable Care Act (ACA) was passed, then Vice President Joe Biden called it a “big f**king deal.” The ACA allowed millions of previously uninsured people to get affordable health insurance. This insurance was the difference between life and death for many Americans.
But rising health care and prescription costs have remained life-threatening for many people on Medicare. We’ve all heard reports of elderly and disabled people who skipped meals in order to afford to pay for their medications or even skipped doses.
The Inflation Reduction Act (IRA) has provisions that address these problems including:
- Lowering Medicare prescription drug price negotiation with manufacturers.
- Capping out-of-pocket Medicare prescription drug costs each year ($2,000 in 2025).
- Continuing to lower health insurance premiums through HealthCare.gov and state-based insurance Marketplaces.
The health care provisions in this bill are also a “big f**king deal!” Although Medicare is by far the largest health insurance program in the country, it has not previously been allowed to negotiate for lower, volume-based, prescription prices. The yearly cap also means that people will not bankrupt themselves paying for prescriptions whose costs remain high.
Another benefit of the Inflation Reduction Act deals with diabetics’ need for insulin. Starting in 2023, people on Medicare will pay no more than $35 for a month’s supply of prescription insulin with no deductible.
The healthcare provisions of the Inflation Reduction Act will be lifesaving and life-changing for millions of people in America. The Biden-Harris administration has kept its promise to help people live better lives. The Republicans, on the other hand, have promised to reverse these savings if they take over the House and Senate.
You can find more detailed information on the Inflation Reduction Act’s impact on health care costs here.
Check out the rest of the articles in our Biden-Harris series:
The Awesome Accomplishments of the Biden-Harris Administration
Gen Z and Gun Violence: Your Vote Can Save Lives
Biden Continues the Job Growth Trends of Past Democratic Presidents
Big, Bold Climate Action in the Inflation Reduction Act
The American Rescue Plan Is Even Better Than You Think
Republicans Have Brought Us to a Fascist Flashpoint
The PACT Act Proves Democrats Care About Our Veterans
The CHIPS and Science Act: A Boon for US Manufacturing and Technology
Eighteen Months in … and I’m Still Ridin’ With Biden
