News

This Week: U.S. Senator Bob Casey and U.S. Representatives Bill Pascrell and Susie Lee Join  Events Across the Nation

Last Week: U.S. Senators Michael Bennet (D-CO), John Hickenlooper (D-CO), and Maggie Hassan (D-NH) and U.S. Representatives Frank Pallone, Jr. (NJ-06), Darren Soto (D-FL-09), and Susan Wild (D–PA-07) Joined Protect Our Care for State Events

Washington DC — This week, Protect Our Care is hosting events across the nation with Members of Congress and health care advocates to discuss the Inflation Reduction Act, historic legislation that will lower prescription drug costs and health insurance premiums for millions of Americans. These measures will deliver long-overdue relief to working families and seniors, and it will address the deep racial inequities in our health care system. President Biden and the Democrats have been working tirelessly to pass meaningful health care reform in Congress, and now they have made history by bringing down costs for families across the country with the Inflation Reduction Act.

Last week, Protect Our Care also hosted events in five states along with two national events with Majority Leader Steny H. Hoyer (D-MD-05) and U.S. House Majority Whip James E. Clyburn (D-SC-06) and U.S. Representatives Peter Welch (D-VT-AL) and Lauren Underwood (D-IL-14) ahead of the passage of the Inflation Reduction Act in the House. 

UPCOMING EVENTS:

NEW JERSEY
Rx Drug Cost Event with Congressman Bill Pascrell and Health Care Advocates

WHO:
Congressman Bill Pascrell
Laura Waddell, Health Care Program Director, New Jersey Citizen Action
Patrick Hall, Health care storyteller and business owner 

WHAT: Virtual Press Conference

WHERE:
Register for the event here.

WHEN: Monday, August 15, 2022 at 11:00 AM ET

NEVADA 
Inflation Reduction Act Event with Congresswoman Susie Lee and Health Care Advocates

WHO:
Congresswoman Susie Lee

WHAT: Virtual Press Conference

WHERE: TBD

WHEN: Monday, August 15, 2022 at 1:00 PM PT // 4:00 PM ET

PENNSYLVANIA
Inflation Reduction Act Press Event with Senator Bob Casey and Health Care Advocates

WHO:
U.S. Senator Bob Casey

WHAT: Press Conference

WHERE: Harrisburg, PA

WHEN: Thursday, August 18, 2022 at TBD

 

EVENTS LAST WEEK:

NATIONAL
On Friday, August 12, Majority Leader Steny H. Hoyer (D-MD-05) and U.S. House Majority Whip James E. Clyburn (D-SC-06) joined Protect Our Care for a virtual press conference ahead of the House vote on the Inflation Reduction Act. The legislation takes critical steps to lower health care premiums and prescription drug costs for the American people. Watch the event here. 

On Tuesday, August 9, U.S. Representatives Peter Welch (D-VT-AL) and Lauren Underwood (D-IL-14) joined patient advocates and Protect Our Care for a virtual press conference to discuss the Inflation Reduction Act’s critical measures to lower health care premiums and prescription drug costs for the American people. You can watch the event here. 

COLORADO
On Tuesday, August 9, Protect Our Care Colorado joined Senators Michael Bennet and John Hickenlooper to celebrate Senate passage of the Inflation Reduction Act.  Bennet and Hickenlooper secured critical resources and provisions in the historic legislation to lower health care and prescription drug costs, tackle climate change, reduce the U.S. deficit, and help fight inflation for hard-working Coloradans. You can watch the event here.

Coverage: 

• Colorado Public Radio: Bennet, Hickenlooper help pass Democrat’s climate, health and tax bill
• The Denver Channel: Democrats laud coming impact Inflation Reduction Act will have on Colorado 
• Real Vail: Senate passes IRA with largest ever investment in climate rescue infrastructure
• Colorado Times Recorder: Colorado Democrats, environmental groups cheer Senate passage of ‘historic’ climate bill
• AccessWire: Colorado VNA receives 2.3 million grant to expand CAPABLE program Denver Post: Colorado’s U.S. Senate candidates spar over $433 billion climate bill 
• Axios: Colorado is a battleground for how to frame new bill

NEW HAMPSHIRE
On Tuesday, August 9, U.S. Senator Maggie Hassan (D-NH) held a press conference at Amoskeag Health with local health care advocates, medical professionals and area residents impacted by pharmaceutical costs to celebrate the passage of the Inflation Reduction Act last weekend by the U.S. Senate. “This bill will help bring down the cost of prescription drugs for not just Medicare patients, but consumers across the board by putting pressure on Big Pharma to lower their prices,” said Senator Hassan. 

Coverage:

• Manchester Ink Link: Hassan joins local advocates in touting Inflation Reduction Act’s passage

FLORIDA
On Wednesday, August 10, U.S. Representative Darren Soto (D-FL-09) joined Protect Our Care Florida to discuss Congress passing the Inflation Reduction Act, historic legislation that will lower prescription drug costs and health insurance premiums for millions of Americans. “The advance premium tax credit appears to be saved and extended for three years– to 2025– under the Inflation Reduction Act. This is a huge win for Florida that is imminent,” said Congressman Darren Soto. “It means brighter days are ahead. Lower costs. Better healthcare. And a brighter future.” You can watch the event here. 

Coverage: 

• WMFE NPR: Central Florida healthcare advocates call for passage of Inflation Reduction Act
• Florida Phoenix: U.S. drug price controls could kneecap DeSantis’ Canada prescription import plan

NEW JERSEY
On Thursday, August 11,  Protect Our Care joined Congressman Frank Pallone, Jr. (NJ-06) at a press conference in Woodbridge with local elected leaders and health care advocates on the Inflation Reduction Act.“The Inflation Reduction Act is one of the most significant pieces of health care legislation to move through Congress in over a decade. It finally breaks Big Pharma’s monopoly on prescription drug prices. No one should have to choose between paying for life saving medications or food and rent,” said Rep. Pallone. “Importantly, it will help ensure seniors are no longer ripped off at the pharmacy counter by capping both their annual out-of-pocket drug spending as well as how much they can be charged for insulin. It also penalizes Big Pharma companies for unfairly hiking prices on seniors.” You can watch the event here.

Coverage:

• Central Jersey: Congressman Frank Pallone highlights Inflation Reduction Act
• News 12 New Jersey: Congress considers bill to lower cost of prescription drugs, health care for seniors

PENNSYLVANIA
On Thursday, August 11, U.S. Representative Susan Wild (D-PA-07) joined Protect Our Care Pennsylvania, Pennsylvania Health Access Network, For Our Future PA, and Family Friendly Pennsylvania to emphasize the need for Congress to lower prescription drug costs by passing the Inflation Reduction Act. Rep. Wild has been a national leader on this issue both in the House and in pressuring the Senate to take action. Passage of the Inflation Reduction Act will allow Medicare to negotiate drug prices for the first time in history, limit onerous price hikes, and cap seniors’ drug costs. These actions are vital to fixing the broken system that all too often forces patients to choose between paying the bills and affording the drugs they need. You can watch the event here.

Coverage:

• WFMZ-TV 69 (Philadelphia): Susan Wild Discusses Inflation Reduction Act with Health Care Advocates
• WFMZ-TV 69 (Philadelphia): Rep. Susan Wild Discusses IRA Lower Rx Drug Cost Measures with Constituents

Washington D.C. – Today, House Democrats passed the biggest health care legislation since the Affordable Care Act. The Inflation Reduction Act will lower the cost of health insurance and drive down prescription drug prices by giving Medicare the power to negotiate, capping seniors’ out-of-pocket costs for drugs at $2,000 per year, capping insulin costs, and stopping Big Pharma’s egregious price hikes. This bill will help lower costs for millions of working families, address the deep racial inequities in our health care system and save lives. This historic legislation ends a 20-year era of pharmaceutical companies’ greed taking precedence over the health and well-being of the American people. In response, Protect Our Care Chair Leslie Dach issued the following statement: 

“A long-awaited victory for all Americans, this bill represents peace of mind for the millions of people who struggle to make ends meet. Being sick can take over your life and being unable to pay for care devastates families. Too many Americans die before their time because they can’t afford health care, and the inequities are even more profound for people of color, rural residents, and people with disabilities. Now, the Inflation Reduction Act will be a game-changer for millions of people. By passing this legislation, President Biden and Democrats delivered on their promise to lower health care costs and rein in high drug prices — a stark contrast from  every Republican who voted no. American families have been asking and waiting for this day, and now help is on the way.”

Watch the Event Here.

Washington, DC — Today, Majority Leader Steny H. Hoyer (D-MD-05) and U.S. House Majority Whip James E. Clyburn (D-SC-06) joined Protect Our Care for a virtual press conference ahead of the House vote on the Inflation Reduction Act. The legislation takes critical steps to lower health care premiums and prescription drug costs for the American people. 

The Inflation Reduction Act lowers health care premiums for 13 million Americans and drives down prescription drug prices by giving Medicare the power to negotiate lower costs, capping seniors’ out-of-pocket drug costs, and stopping many of Big Pharma’s egregious annual price hikes. This bill will help lower costs for millions of working families and address the deep racial inequities in our health care system. 

“This bill is a very significant step forward. I’m glad to join Protect Our Care again today to speak about all we have accomplished for the American people in this landmark bill,” said Majority Leader Steny H. Hoyer (D-MD-05). “Democrats know that America’s strength and success depends on the health of its people. That’s why we have made it our mission to ensure that all Americans have access to affordable quality health care. This success is why we have fought together to extend these important updates to the ACA.”

“This particular bill that we’re dealing with today is a landmark piece of legislation. It is something that a lot of people said could not be done, but we are doing it,” said U.S. House Majority Whip James E. Clyburn (D-SC-06). “This is a big, big beginning. We are going to work with the American people to get the accessibility and affordability of health care to every American going forward. “ 

“Having my health care premium reduced from $400 a month to $30 a month was an absolute blessing. It meant I could stay on a health care plan without going into debt,” said Himali Patel, an Atlanta small business owner. “I’m still working to build back my businesses and my income since the pandemic, so the extended premium tax credits are a lifesaver. It’s difficult having to worry about choosing between paying for my necessary health care insurance to keep me alive and functioning, or my mortgage and groceries each month. Thank you so much to Leader Hoyer and Representative Clyburn, and all the Democrats in Congress working to ensure quality affordable health care for every single American, like me, becomes a reality.”

“The Inflation Reduction Act puts more money in the pockets of millions of families at a time when lowering costs has never been more urgent,” said Protect Our Care Chair Leslie Dach. “Help is on the way in just a matter of months. Next year alone, this historic legislation will lower the cost of health insurance, cap the monthly cost of insulin at $35 for seniors, stop many of Big Pharma’s egregious price hikes, and provide needed vaccines at no cost. These policies will be a lifeline for millions of Americans, particularly seniors, people of color, rural Americans, and people with disabilities.” 

The Inflation Reduction Act will lower costs and improve health care for millions of Americans, with help on the way in just a matter of months. In 2023 alone, this historic legislation will extend lower health care costs, cap the monthly cost of insulin at $35 for seniors, stop many of Big Pharma’s egregious price hikes, and provide needed vaccines at no cost. These policies will be a lifeline for millions of Americans, particularly seniors, people of color, rural Americans, and people with disabilities, starting just next year. Lawmakers have long promised to lower health costs and rein in high drug prices — and President Biden and Democrats are actually getting the job done now.

Help Is On The Way Starting In 2023

• 13 million Americans will save on their health insurance premiums, saving an average of $2,400 per family.
• 49 million Medicare Part D beneficiaries will no longer face Big Pharma’s outrageous price hikes that exceed inflation.
• 3.2 million Medicare beneficiaries will have the cost of insulin capped at $35 each month.
• 49 million Medicare beneficiaries will have access to no cost vaccines, such as Shingles and pneumonia, starting in 2023.

The Inflation Reduction Act Lowers Prescription Drug Prices

Puts An End To Outrageous Price Increases. The Inflation Reduction Act stops Big Pharma from raising Medicare drug prices faster than the rate of inflation beginning in 2023. For example, Humira, a medication commonly used to treat rheumatoid arthritis, is one of the nation’s highest revenue generating drugs, raking in $21 billion in sales in 2019. AbbVie, Humira’s manufacturer, has hiked the price of Humira 27 times, including in January 2021 when it raised its cost by 7.4 percent. Over the past 20 years, price increases for brand-name drugs in Medicare Part D have risen at more than twice the rate of inflation.

Makes Insulin Accessible And Affordable. Insulin copays for Americans on Medicare will also be capped at $35 each month beginning in 2023.

Provides No Cost Vaccines. All adults on Medicare Part D will have access to covered vaccines, such as Shingles and Tdap, at no cost starting in 2023.

The Inflation Reduction Act Lowers Health Insurance Premiums

Lowers Health Insurance Premiums for Millions of Americans. A record breaking 14.5 million Americans enrolled in an ACA marketplace plan in 2021. Right now, nearly 13 million people, or 89 percent with an ACA plan, are receiving enhanced premium tax credits, making their coverage affordable and accessible. The Inflation Reduction Act will save the average American family $2,400 a year. 

Caps the Amount of Money Families Pay for Health Insurance. The Inflation Reduction Act ensures families pay no more than 8.5 percent of their income towards coverage. This will help middle and working class families facing excessive premiums or living in high-premium areas. Before the American Rescue Plan, middle class families spent an average of 15 percent of their incomes on health insurance. The subsidies are designed to benefit those who need it most, and they are already means tested, which means the higher your income, the smaller your tax credits become. A family whose health insurance premiums alone — not including deductibles — are less than 8.5 percent of their income receive no tax credits at all. 

Addresses Health Care Equity By Expanding Coverage for Communities of Color. The Center on Budget Policy and Priorities estimates the increased savings continued under the Inflation Reduction Act will cause a sharp decline in the uninsured rate across every racial group, with one in three uninsured Black adults gaining coverage. Prior to the American Rescue Plan, more than 11 million uninsured adults were eligible for premium tax credits, with people of color making up roughly half of the group. The premium savings provided in the American Rescue Plan have made more than 65 percent of uninsured Black adults eligible for zero dollar premium plans and 75 percent eligible for plans less than $50 a month. For uninsured Hispanic and Latino adults, now more than 68 percent are eligible for zero dollar premium plans and nearly 80 percent can access plans for less than $50 a month. Health coverage access is imperative to reducing racial disparities in health coverage across the nation. 

Eliminates Premiums For Low-Wage Workers. The Inflation Reduction Act ensures no American with an income at or below 150 percent of the federal poverty level buying their coverage on the Marketplace will pay a premium.

Cuts Costs For Rural America. Thanks to the provisions in the Inflation Reduction Act, roughly 65 percent of rural Americans will have access to zero dollar premium health coverage and more than 76 percent will be able to find a plan for less than $50 a month, narrowing the coverage differences between rural and urban America.

***MEDIA ADVISORY FOR THURSDAY AUGUST 11***

The Inflation Reduction Act Lowers Health Care Costs for Millions of Americans

This morning, Congressman Frank Pallone, Jr. (NJ-06) will host a press conference at 10 am in Woodbridge with local elected leaders and health care advocates ahead of the House passage of the Inflation Reduction Act. At the same time, Representative Susan Wild (PA-07) will join Protect Our Care Pennsylvania, Pennsylvania Health Access Network, For Our Future PA, and Family Friendly Pennsylvania to emphasize the need for Congress to lower prescription drug costs by passing the Inflation Reduction Act. 

Passage of the Inflation Reduction Act will allow Medicare to negotiate drug prices for the first time in history, limit onerous price hikes, and cap seniors’ drug costs. These actions are vital to fixing the broken system that all too often forces patients to choose between paying the bills and affording the drugs they need. The bill will also dramatically lower the cost of monthly health insurance premiums for millions of Americans by extending Affordable Care Act Marketplace subsidies through the end of 2025. The House of Representatives is scheduled to vote on the bill this Friday.

NEW JERSEY

WHO:
Congressman Frank Pallone, Jr. (NJ-06)
Mayor John McCormac
Ivy Charmatz, Protect Our Care New Jersey
Laura Waddell, New Jersey Citizen Action Health Care Program Director
Evelyn Liebman, AARP New Jersey Director of Advocacy

WHAT: Press conference on major legislation to lower prescription drug and health care costs

WHEN: Thursday, August 11 at 10 AM

WHERE: Evergreen Senior Center, 400 Inman Ave., Woodbridge, NJ
The press conference will be livestreamed here.

PENNSYLVANIA 

WHO:
Representative Susan Wild
Nancy Amols, Medicare consumer, Allentown
Ashley McBride, For Our Future PA
Protect Our Care Pennsylvania, The Pennsylvania Health Access Network, For Our Future PA, Family Friendly Pennsylvania

WHAT: Press Conference

WHEN: Thursday, August 11 at 10AM ET

WHERE: https://ushr.zoomgov.com/webinar/register/WN_JoSNp-C0TMycnw8FjwdDCA

The Inflation Reduction Act will lower costs and improve health care for millions of hard working Americans, with help on the way in just a matter of months. The historic reforms will drive down prescription drug prices by giving Medicare the power to negotiate, capping seniors’ out-of-pocket drug costs at $2,000 per year, limiting insulin copays, and stopping many of Big Pharma’s egregious price hikes. In addition, the plan will lower health insurance premiums for millions of Americans who buy health insurance on their own through the Affordable Care Act. These policies will save millions of Americans thousands of dollars a year. Not only does this bill address our most pressing health care challenges, it also puts downward pressure on rising costs and is backed by more than 120 world renowned economists. 

For too long, Americans have had to pay too much for health insurance or to get the prescription drugs that they depend on. These proposals enjoy overwhelming support across party lines and will be the greatest health care improvement since the passage of the Affordable Care Act.. Lawmakers have long promised to lower health costs and rein in high drug prices — but President Biden and Democrats are actually getting the job done. 

Health care lies at the heart of the Inflation Reduction Act, and the proposals to reduce costs and expand care are overwhelmingly popular with voters across the political spectrum. The Inflation Reduction Act will reduce racial inequities in health care, improve the health and well-being of seniors and people with disabilities, strengthen families, and save lives. 

Help Is On The Way Starting Next Year  

In 2023

• 13 million Americans will save on their health insurance premiums, saving an average of $2,400 per family.
• 49 million Medicare beneficiaries will no longer face Big Pharma’s outrageous price hikes that outpace inflation.
• 3.2 million Medicare beneficiaries using insulin will have insulin copays capped at $35 each month.
• All Medicare Part D beneficiaries will have access to covered vaccines, such as Shingles and Tdap, at no cost starting in 2023.

And Soon After That

• 49 million Medicare Part D beneficiaries will have out-of-pocket costs for prescription drugs capped at $2,000 per year starting in 2025.
• Medicare will negotiate lower prices for 80 of the most expensive and popular prescription drugs by 2030.

STATE BY STATE NUMBERS FOR ALL FIFTY STATES CAN BE FOUND HERE

The Inflation Reduction Act Lowers Prescription Drug Prices

Gives Medicare The Power To Negotiate Lower Drug Prices. For nearly 20 years, Medicare has been banned from negotiating the price of prescription drugs for seniors, and Big Pharma has been able to dictate prices while Americans pay three times more for their medications than people in other countries. Under the Inflation Reduction Act, Medicare will be empowered to negotiate prices for select drugs for Medicare Part D’s 49 million beneficiaries. Beginning in 2026, 10 drugs will be negotiated with that number increasing to 15 drugs in 2027, and 20 drugs in 2029 and into the future. By 2030, more than 80 drugs will be eligible for Medicare price negotiation, in addition to insulin products. 

Caps Out-Of-Pocket Spending For Seniors. Seniors with serious conditions like cancer, multiple sclerosis, and rheumatoid arthritis could save thousands of dollars on prescriptions under the Inflation Reduction Act, which will help the more than 1.4 million Medicare enrollees who paid more than $2,000 in out-of-pocket costs in 2020. Medicare Part D out-of-pocket costs for prescription drugs will be capped at $2,000 per year beginning in 2025. The bill will also allow out-of-pocket spending to be smoothed over the course of the year beginning in 2025, so patients are not forced to pay the entirety of their out-of-pocket cost all at one time.  

Makes Insulin Accessible And Affordable. Insulin copays for Americans on Medicare will also be capped at $35 each month. 

Puts An End To Outrageous Price Increases. The Inflation Reduction Act stops Big Pharma from raising Medicare drug prices faster than the rate of inflation beginning in 2023. For example, Humira, a medication commonly used to treat rheumatoid arthritis, is one of the nation’s highest revenue generating drugs, raking in $21 billion in sales in 2019. AbbVie, Humira’s manufacturer, has hiked the price of Humira 27 times, including in January 2021 when it raised its cost by 7.4 percent. Over the past 20 years, price increases for brand-name drugs in Medicare Part D have risen at more than twice the rate of inflation.

The Inflation Reduction Act Lowers Health Insurance Premiums

Lowers Health Insurance Premiums for Millions of Americans. A record breaking 14.5 million Americans enrolled in an ACA marketplace plan in 2021. Right now, nearly 13 million people, or 89 percent with an ACA plan, are receiving enhanced premium tax credits, making their coverage affordable and accessible. The Inflation Reduction Act will save the average American family $2,400 a year. 

Caps the Amount of Money Families Pay for Health Insurance. The Inflation Reduction Act ensures families pay no more than 8.5 percent of their income towards coverage. This will help middle and working class families facing excessive premiums or living in high-premium areas. Before the American Rescue Plan, middle class families spent an average of 15 percent of their incomes on health insurance. The subsidies are designed to benefit those who need it most, and they are already means tested, which means the higher your income, the smaller your tax credits become. A family whose health insurance premiums alone — not including deductibles — are less than 8.5 percent of their income receive no tax credits at all. 

Addresses Health Care Equity By Expanding Coverage for Communities of Color. The Center on Budget Policy and Priorities estimates the increased savings continued under the Inflation Reduction Act will cause a sharp decline in the uninsured rate across every racial group, with one in three uninsured Black adults gaining coverage. Prior to the American Rescue Plan, more than 11 million uninsured adults were eligible for premium tax credits, with people of color making up roughly half of the group. The premium savings provided in the American Rescue Plan have made more than 65 percent of uninsured Black adults eligible for zero dollar premium plans and 75 percent eligible for plans less than $50 a month. For uninsured Hispanic and Latino adults, now more than 68 percent are eligible for zero dollar premium plans and nearly 80 percent can access plans for less than $50 a month. Health coverage access is imperative to reducing racial disparities in health coverage across the nation. 

Eliminates Premiums For Low-Wage Workers. The Inflation Reduction Act ensures no American with an income at or below 150 percent of the federal poverty level buying their coverage on the Marketplace will pay a premium.

Cuts Costs For Rural America. Thanks to the provisions in the Inflation Reduction Act, roughly 65 percent of rural Americans will have access to zero dollar premium health coverage and more than 76 percent will be able to find a plan for less than $50 a month, narrowing the coverage differences between rural and urban America.

Additional Resources:

Polling Clearly Demonstrates Americans Support The Inflation Reduction Act 

Big Pharma Drops Over $100 Million Fighting Prescription Drug Price Negotiation

Big Pharma Backed Ads Spread Lies About The Inflation Reduction Act

***MEDIA ADVISORY FOR WEDNESDAY, AUGUST 10 AT 10:00 AM ET***

The Inflation Reduction Act Will Lower Costs, Help Floridians Save on Premiums, and Allow Medicare to Negotiate Drug Prices

Orlando, FL — Today, at 10:00 AM, Rep. Darren Soto will join Protect Our Care Florida along with healthcare advocates to discuss Senate Democrats passing the Inflation Reduction Act, a historic piece of legislation that will lower prescription drug costs and health insurance premiums for millions of Americans. The House is expected to vote on the legislation this week. 

The Inflation Reduction Act of 2022 extends the enhanced premium tax credits for millions of Americans who buy health insurance on their own and gives Medicare the power to negotiate lower prescription drug prices, caps seniors’ out-of-pocket costs for drugs at $2,000 per year, caps insulin costs at $35/month for seniors, and stops Big Pharma’s egregious annual price hikes. These measures will help lower costs for millions of working families and address the deep racial inequities in our healthcare system. 

President Biden and the Democrats have been working tirelessly to pass meaningful health care reform in Congress, and now have a historic opportunity to bring down costs for Floridians, and families across the country.

PRESS CALL:

WHO:
Rep. Darren Soto ( D-FL-9th)
Anne Packham, Marketplace Project Director at Primary Care Access Network
Veronica Salsman, ACA Storyteller
Michael Womack, State Director for Protect Our Care Florida

WHAT: Virtual Press Conference

WHERE: Register to join the Zoom event (Registration required)

WHEN: Wednesday, August 10th at 10:00 AM

Watch the Event Here.

Washington DC — Today, U.S. Representatives Peter Welch (D-VT-AL) and Lauren Underwood (D-IL-14) joined patient advocates and Protect Our Care for a virtual press conference to discuss the Inflation Reduction Act’s critical measures to lower health care premiums and prescription drug costs for the American people.  

The event comes just two days after the Senate passed the Inflation Reduction Act, and now, the House is expected to vote on the historic legislation later this week. The bill lowers health care premiums by extending enhanced premium tax credits for ACA plans for three years and drives down prescription drug prices by giving Medicare the power to negotiate lower costs for millions of Americans, capping seniors’ out-of-pocket costs for drugs at $2,000 per year, and stopping many of Big Pharma’s egregious annual price hikes. This bill will help lower costs for millions of working families and address the deep racial inequities in our health care system. 

“The immediate benefits of this legislation are real,” said Representative Peter Welch (D-VT-AL). “First, we’re going to see the broad benefits that come from Medicare negotiation, and we’re going to be able to use it in a way that is going to protect consumers, taxpayers and employers without harming innovation. Then secondly, we are going to bring immediate financial benefits to seniors on Medicare with a $2,000 cap on drug costs and a $35 monthly cap on insulin. This is going to extend the life of Medicare, this is going to lower costs for taxpayers.” 

“We have a once-in-a-generation opportunity to pass the Inflation Reduction Act and reduce health care and prescription drug costs for millions of Americans,” said Congresswoman Lauren Underwood (IL-14). “My Health Care Affordability Act has significantly lowered health care costs, increased coverage, and improved equity for families by expanding premium tax credits, and the Inflation Reduction Act would continue these historic advancements.”

“Premium savings meant freedom to actually go to the doctor and spend our deductible, and have access to the care we needed as we approached our retirement years. It also meant freedom to consider earlier retirement options and possible career changes,” said Chrysa Otenso, a small business owner from Wisconsin. “It also allowed us to give substantial raises to our employees so that together with the subsidies, they could all finally access affordable health care. For so many in my community these subsidies can mean freedom to open a business, change jobs and follow their dreams.”

“Democrats in Congress are on the cusp of passing the greatest health care achievement since the Affordable Care Act. The Inflation Reduction Act will make a real difference in the lives of millions. By reducing health care premiums and reining in drug prices, President Biden and Democratic lawmakers are making good on their promise to make health care more affordable, accessible, and equitable, ” said Protect Our Care Chair Leslie Dach. “Democrats are fighting against unified Republican opposition and a $100 million lobbying campaign from Big Pharma — but this is an issue of life and death, and Americans are depending on Congress to get this over the finish line.” 

 ***MEDIA ADVISORY FOR TUESDAY, AUGUST 9 AT 3:00 PM MT // 5:00 PM ET***

Event Comes After  the Senate Passed The IRA to Lower Costs, Fight Climate Change, and Transition to a Clean Energy Economy

Denver – Today at 3:00 p.m. MT, Colorado U.S. Senators Michael Bennet and John Hickenlooper will join Coloradans to celebrate Senate passage of the Inflation Reduction Act.  Bennet and Hickenlooper secured critical resources and provisions in the historic legislation to lower health care and prescription drug costs, tackle climate change, reduce the U.S. deficit, and help fight inflation for hard-working Coloradans. The bill is paid for by making wealthy corporations pay their fair share.

Bennet and Hickenlooper will be joined by Coloradans who will benefit from this historic bill, which the U.S. House of Representatives is expected to pass on Friday.

PRESS CALL:

WHO:
Colorado U.S. Senator Michael Bennet
Colorado U.S. Senator John Hickenlooper

WHAT: Press conference to celebrate of Senate passage of the Inflation Reduction Act

WHERE: City Park Pavillion, Denver, CO

Please RSVP to [email protected].

WHEN: Tuesday, August 9, 2022 at 3:00 PM MT // 5:00 PM ET