The Biden-Harris Administration Celebrated the 2nd Anniversary of the Inflation Reduction Act
Post Date: August 19, 2024
On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law, marking one of the largest investments in the American economy, energy security, and climate that Congress has made in the nation's history.
The Inflation Reduction Act is saving Americans millions in lower prescription drug costs and making health insurance more affordable. This groundbreaking law is improving access to lifesaving treatments for people with Medicare while strengthening the Medicare program now and for future generations.
As the Biden-Harris Administration continues to implement the Inflation Reduction Act, the American people will continue to save money. The prescription drug law will continue to deliver additional savings, with a cap on out-of-pocket costs for every person with Medicare prescription drug coverage beginning in 2025.
Also, further historic new negotiated, lower prices for some of the most expensive and most utilized medications will go into effect in 2026 and future drug price negotiations in the years ahead.
Related Glo Services Post(s):
New Medicare Prescription Payment Plan
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