Bipartisan Support Urged for Inflation Reduction Act by MD Healthcare for All

Support Needed for Inflation Reduction Act in Maryland

As the Maryland election approaches, it is crucial for all candidates to endorse the Inflation Reduction Act (IRA) at the federal level. This act, set to expire in 2025, has significant implications for healthcare in Maryland.

Benefits of IRA for Marylanders

MD Healthcare For All President Vinny DeMarco highlights the positive impact of the IRA on Maryland residents. The Medicaid expansion and temporary subsidies for ACA private insurance have resulted in savings for many Marylanders.

DeMarco urges Rep. Andy Harris and the delegation to support the IRA to extend its benefits beyond Medicaid recipients. This move aligns with President Biden’s vision to broaden the reach of the act.

Key Features of the IRA

The IRA introduces Medicare negotiation with pharmaceutical companies to lower prescription costs. It also limits monthly insulin expenses for Medicare beneficiaries and caps annual out-of-pocket prescription drug costs.

These changes aim to alleviate the financial burden of expensive medications for millions of Americans, including those in Maryland, while saving significant costs for the US Treasury.

Importance of Endorsement

DeMarco emphasizes the importance of candidate support for the IRA to pave the way for a federal prescription drug affordability board similar to Maryland’s model.

Candidates have until July 15th to declare their stance on the IRA and its implications for Maryland.

Read More of this Story at – 2024-05-16 14:25:46

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