Reps. Neguse, Crow Discuss Inflation Reduction Act, Lower Health Care Costs for Colorado Seniors
Rep.
"With the Inflation Reduction Act now the law of the land, we have taken bold, necessary steps to rein in out-of-control health care costs and lower prescription drug prices for America's seniors," said
Affordable Health Care
* By extending critical tax credits set to expire this year, the Inflation Reduction Act will help 33,000 people in the district currently enrolled in subsidized marketplace health insurance coverage through the Affordable Care Act save an average of
* Thanks to the Inflation Reduction Act, a family in the district with two adults, two children, and a household income of
* A single-parent household with one adult, one child, and a household income of
* A household of two adults over the age of 60 with a joint income of
Lower Prescription Drug Costs
* The Inflation Reduction Act caps Medicare beneficiaries' annual out-of-pocket costs for prescription drugs covered by Medicare Part D at
* For the estimated 4,600 Medicare beneficiaries receiving insulin in the district, the new law will cap monthly copayments for insulin products at
* The Inflation Reduction Act finally allows the government to negotiate lower drug prices with Big Pharma. If the Inflation Reduction Act's drug pricing provisions had been fully in effect in 2020:
- The total cost of prescriptions filled by Medicare beneficiaries in the district could have been
- Medicare beneficiaries in the district could have saved a total of
The urgent need for these reforms was demonstrated by
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Watch the press call here (https://www.facebook.com/404346435167924/videos/580885430448778).
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Original text here: https://neguse.house.gov/media/press-releases/rep-neguse-rep-crow-discuss-inflation-reduction-act-lower-health-care-costs-for-colorado-seniors
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