Prior to the passing of the Inflation Reduction Act, I was one of the many Floridians contending with astronomical drug prices. By signing the Inflation Reduction Act into law, the Joe Biden administration has helped to lower health care costs for the American people. Decades in the making, the Inflation Reduction Act finally gives Medicare the power to negotiate lower drug prices. The Inflation Reduction Act caps out-of-pocket drug costs for seniors on Medicare at $2,000 per year. Florida’s seniors like myself stand to benefit in a big way from the savings from The Inflation Reduction Act.

Source: New York Times October 06, 2022 00:57 UTC