Provisions of the Reducing Inflation Act regarding the cost of prescription drugs

BUFFALO, NY – Representative Brian Higgins and representatives from AARP New York, Erie County Medical Center and other health care associations met Friday to explain details of the new provisions of the law on reductions in inflation that allow people on Medicare to save on prescription drug prices.

“It will allow Medicare to negotiate drug prices with drug providers with the goal of reducing costs and increasing quality,” said Higgins, (D) 26th Congressional District.

Higgins says that under the Cut Inflation Act, people enrolled in Medicare will have a $2,000 cap on annual prescription drug costs and a $35 per month cap on drug costs. insulin.

“Insulin has been particularly expensive for diabetics and very, very expensive,” Higgins said. “Reducing that to $35 a month is a significant relief for them. It represents the start.”

Higgins says getting started will also lower the cost of other prescription drugs. Dr. Ajay Chaudhuri, co-chair of the American Diabetes Association’s Community Leadership Council, says lowering prescription drug prices is crucial.

“There are people who have worked all their lives, and suddenly they find themselves having to choose between food and essential medicine,” Chaudhuri said. “And it’s very difficult for me to look them in the eye and say, ‘well, need to do something.’ I think it’s historic.”

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