The Democrats’ flagship climate and health care bill passed in a party-line House vote. The bill includes several provisions to lower the prices of prescription drugs — a priority of AARP Florida.
“Today is a momentous day for older Americans. By passing the Inflation Reduction Act, Congress has made good on decades of promises to lower the price of prescription drugs. Seniors should never have to choose between paying for needed medicine or other necessities like food or rent, and tens of millions of adults in Medicare drug plans will soon have peace of mind knowing their out-of-pocket expenses are limited every year,” Jo Ann Jenkins, AARP CEO, said in a statement.
AARP Florida specifically thanked U.S. Reps. Kathy Castor, Sheila Cherfilus-McCormick, Charlie Crist, Val Demings, Ted Deutch, Lois Frankel, Al Lawson, Stephanie Murphy, Darren Soto, Debbie Wasserman Schultz and Frederica Wilson for supporting the legislation, which it says “will bring real relief for seniors.”
“I thank the House members whose votes today will bring real relief to millions of Americans, and I look forward to President Biden signing this bill into law,” Jenkins added.
AARP fought for provisions in the bill that will allow Medicare to negotiate the price of drugs, cap annual out-of-pocket prescription drug costs in Medicare Part D ($2,000 in 2025), hold drug companies accountable when they increase drug prices faster than the rate of inflation and cap co-pays for insulin to no more than $35 per month in Medicare Part D.
“Many people said this couldn’t be done, but AARP isn’t afraid of a hard fight. We kept up the pressure, and now, for the first time, Medicare will be able to negotiate with drug companies for lower prices, saving seniors money on their medications,” Jenkins said.
AARP Florida serves over 2.8 million Floridians over age 50.