Protecting Seniors: Provisions in Inflation Reduction Act Significantly Reduces Health Care Costs

Special to the Journal 

Assistant Speaker of the U.S. House of Representatives Katherine Clark (MA-5), Senator Elizabeth Warren (D-MA) and U.S. Secretary of Health and Human Services Xavier Becerra joined AARP advocates, patients, and community providers for a roundtable discussion at the Waltham Senior Center on the Inflation Reduction Act. Their conversation highlighted how this legislation significantly reduces health care costs and puts money back into the pockets of older Americans. 

 “With the Inflation Reduction Act, seniors won’t have to choose between putting food on the table and paying for lifesaving prescriptions. More families will be able to afford health care, and fewer Americans will be uninsured,”said Assistant Speaker Clark. “This cost-cutting new law is a win for American seniors and will help working families get by and get behind.”

 “Starting this year, Americans will save about $800 a year. What else? If a drug manufacturer tries to increase the price of their drug above the inflation rate, they have to return to the Medicare program the difference between the inflation rate and what they’re charging. As a result, they don’t make a profit above what they should, and you don’t have to pay more,” said Secretary Becerra. “To Assistant Speaker Clark and the Senator: thank you for having the foresight to do big things for Americans, but more importantly, to everyone here, thank you for having the foresight to elect them.”

 The Inflation Reduction Act is a game changer for American seniors. In Massachusetts, it will not only bring down costs but make it possible for seniors to age with the dignity they deserve by: 

 • Capping Medicare Part D Out-of-Pocket Costs at $2,000 

• Allowing Medicare to Negotiate Prices for High-Cost Drugs 

• Capping Insulin Copays at $35 per Month

• Expanding Eligibility for Part D Low-Income Subsidies

• Expanding No Cost Vaccine Coverage for Medicare Beneficiaries 

 Clark has long been a champion for lowering health care costs and ensuring seniors can age with the dignity they deserve. She voted for critical legislation to provide older Americans with much-needed support, including capping the price of insulin at $35 a month and expanding health insurance coverage for seniors. 

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