U.S. Senator Bob Casey Highlights Inflation Reduction Act
Lowering Prescription Drug Costs for Seniors
During a visit to Berks County, U.S. Senator Bob Casey discussed the Inflation Reduction Act and its impact on reducing the cost of prescription drugs, including insulin.
Positive Impact on Seniors’ Lives
Sen. Casey’s efforts have significantly lowered costs for seniors, making their lives easier. Community leaders, including Michael Toledo, executive director of Centro Hispano, acknowledged the positive impact of the act.
Improved Affordability and Quality of Life
One individual benefiting from the act is Juan Rivera, a 62-year-old with diabetes who relies on insulin. The act has helped reduce his monthly costs, allowing him to afford basic necessities like groceries, according to Michael Berman, Pennsylvania state director for Protect Our Care.
Years of Effort to Lower Prescription Drug Costs
Sen. Casey emphasized the long-standing effort in Washington to lower prescription drug costs. The act grants Medicare the authority to negotiate for prescription drugs, benefitting Medicare Part D beneficiaries and seniors.
Caps on Insulin and Medicare Part D Costs
Two significant provisions of the act are caps on insulin costs and Medicare Part D beneficiaries’ monthly expenses. The caps, already in effect since 2023, limit insulin costs per month to a specific amount and reduce Medicare Part D expenses to $35 per month.
Improved Savings and Benefits for Seniors
Sen. Casey stated that the benefits of the act will become evident to people in 2026. Currently, the caps have already benefited over 80,000 seniors in Pennsylvania, with more than 2,000 of them residing in Berks County.
Future Cap on Out-of-Pocket Costs
Next year, an additional cap on out-of-pocket costs will be implemented, limiting expenses to $2,000 per year. This cap will further contribute to substantial savings for seniors.
Read More of this Story at www.wfmz.com – 2024-01-03 22:30:00
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