Senate Democrats Look to Lower Drug Prices, Healthcare Costs
WASHINGTON, D.C. - Congressional Senators are looking to lower your healthcare and prescription drug costs. Senators said legislation they passed this time last year lowers costs for things like insulin for certain people, but they want to make sure everyone gets that same benefit.
When inflation was at some of its highest points this time last year, congress got to work trying to combat the climbing prices. The result: the Inflation Reduction Act.
“This legislation represents a down payment of the biggest issues of our country including the staggering rise in healthcare costs,” said Sen. Chuck Schumer (D- NY).
In this legislation they not only make a large down payment on the deficit but they included healthcare components too. The bill allows Medicare to negotiate drug prices and caps out of pocket costs to two thousand dollars, lowering ACA health care premiums for millions of people and cap the costs for insulin to 35 dollars for those covered by Medicare.
“What we did a year ago is bringing down costs particularly for seniors and people with disabilities,” said Sen. Debbie Stabenow. “Just from a Michigan standpoint, nearly 600-thousand Michiganders will save an annual 356 dollars thanks to the two-thousand dollar out of pocket cap.”
Senator Schumer said when it comes to lowering drug prices they’re not finished yet. The IRA legislation was just the beginning. They want to continue to lower the price of prescription drugs and lower healthcare costs.
“The costs are going down, we’ve already done it for insulin for seniors couldn’t do it for the rest but we did get seven republican votes not close to the 60 but we’re fighting right now we’re working with bipartisan legislation with some of my colleagues to get insulin down to 35 dollars for everybody,” said Schumer.