New Delhi: The United States Inflation Reduction Act helped nearly 1.5 million Medicare recipients save almost $1 billion on prescription drug costs in the first half of 2024, Vice President Kamala Harris announced Tuesday.
The law, which Harris cast the tie-breaking vote for in the Senate, capped out-of-pocket prescription drug costs for Medicare recipients, a White House press release read.
“All Americans should be able to access the health care they need — no matter their income,” Harris said in a statement. “That is why our Administration fought to lower health care costs with the Inflation Reduction Act.”
“Our Administration has also reached unprecedented agreements with pharmaceutical companies to lower prices for the first 10 drugs selected for the Medicare price negotiation program — ten of the most widely used and expensive drugs that treat conditions ranging from cancer to diabetes,” the Vice Presdient added.
In addition to capping insulin costs, the Inflation Reduction Act has also helped lower premiums for Medicare recipients and allowed the administration to reach agreements with pharmaceutical companies to lower the prices of 10 of the most widely used and expensive drugs that treat conditions such as cancer and diabetes