HHS Press Office August 16, 2023
More Savings on Prescription Drug Costs to Come
One year ago today, on August 16, 2022, President Biden signed into law landmark legislation to lower health care costs for millions of Americans, known as the Inflation Reduction Act. This historic law extends Marketplace affordability, caps the cost of insulin at $35 per month for people with Medicare, and improves access to affordable prescription drugs for millions of Americans.
“The first anniversary of the Inflation Reduction Act is cause for celebration, as millions of Americans are already saving money on health care,” said HHS Secretary Xavier Becerra. “As a result of this law, individuals purchasing Marketplace coverage are paying less in premiums, people with Medicare are benefiting from the $35 cap...
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