Vilsack: Seniors Will Benefit From Health Care Portions Of IRA
Much of the attention of the Inflation Reduction Act has been on the efforts to address climate change, but Ag Secretary Tom Vilsack said that’s not the only part of that bill recently signed into law that will help rural America.
“In terms of lower health care costs, for many, many Americans, senior citizens, a significant percentage of which live in rural America.”
Vilsack said the new law may make life a little easier financially by capping the amount seniors pay for prescription drugs to $2,000 per year. Vilsack added during his recent road trip, he was chatting with a woman who would benefit greatly from the Inflation Reduction Act.
“That she was purchasing medication that she needed to keep her alive. The cost of the medication every three months was $9,000. And out of her pocket, she needed to pay $2,500. So, over the course of a year she had to pay $10,000 just for one medication. This law is basically going to provide a savings to that individual.”
And Vilsack added if that medication is insulin, the new law caps that cost at $35 per month.
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