Inflation Reduction Act

Inflation Reduction Act

What does Inflation have to do with Insurance – Medicare edition

The new law effects both Medicare beneficiaries as well as those who do not qualify yet. But for the latter please come back and see my next post

The Inflation reduction act will benefit up to5 to 7,000,000 Medicare beneficiaries. The new provision allows medicare to negotiate prescription drug costs Which could force cost reductions across the board

An estimated 3.3 million Medicare beneficiaries With diabetes could benefit from a guarantee that their insulin costs would be capped at only $35 a month. This is a huge change and possible reduction from previous years

Lastly in 2025 a provision is expected to go into affect that could affect 50 million Americans with Medicare part D this will give them the peace of mind knowing that their pharmacy costs will be capped at $2000 per year. As it currently stands this would directly benefit about 1.4 million beneficiaries each and every year

As you can see these three changes to our Medicare system could result in some truly positive change for yourself or someone you probably know

– Sean Fletcher

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