The Senate has passed the historic Inflation Reduction Act and Chiquita Brooks-LaSure, Administrator of the Centers for Medicare & Medicaid Services issued a statement.
“Today, the Senate passed landmark legislation that will meaningfully lower health care costs for people across the country. This bill will extend enhanced federal tax credits to save millions of people an average of $800 a year on health insurance premiums on the Affordable Care Act Marketplaces and limit the amount of money people with Medicare Part D pay out-of-pocket for prescription drugs at $2,000 a year. And, after years of debate since Part D was passed, Medicare will finally have the ability to negotiate the price of prescription drugs to help seniors, people with disabilities, and taxpayers pay less.
“I’ve traveled around the country and heard from families and health care navigators that the enhanced tax credits have made a difference in obtaining health coverage and actually getting care. And the question I am asked most often is how CMS can make prescription drugs more affordable. The Inflation Reduction Act achieves both these goals. We look forward to Congress sending this bill to the President’s desk to sign and CMS is ready to implement.”