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Author: WHIA Staff     Published; 1/3/2023            WHIA

White House Intergovernmental Affairs

Happy New Year! President Biden has made lowering costs for working families a top priority. Through the Inflation Reduction Act, President Biden is delivering on his promise to lower prescription drug costs, make health insurance more affordable, and help lower costs for working families.  The following provisions of the Inflation Reduction Act went into effect on January 1st: LOWERING HEALTH CARE COSTS:

  • FREE VACCINES: More recommended vaccines are now free of charge for people with Medicare prescription drug coverage.
    • Most notably, the list of vaccines now includes shingles and Tdap. This provides significant savings for Medicare enrollees, as the shingles vaccine alone can cost up to a few hundred dollars.
  • INSULIN CAP: A month’s supply of each covered insulin will now be capped at $35 and there will be no deductible for these products for people with Medicare prescription drug coverage.
    • More than a million Medicare beneficiaries with diabetes will benefit from this $35 cap per month per covered prescription.
    • Help is available for people with Medicare who take insulin, and we encourage them to call 1-800-MEDICARE if they need assistance in exploring options to find the plan that works best for them.
  • REBATES FOR DRUG MANUFACTURERS INCREASING PRICES FASTER THAN INFLATION: Manufacturers will need to pay rebates to Medicare if their price increases for certain drugs exceed inflation.

LOWER ENERGY COSTS:

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