CORPUS CHRISTI, Texas — Thanks to the Cut Inflation Act, residents of Coastal Bend will soon be paying less out of pocket for prescription drugs.
The law includes several provisions aimed at reducing prescription drug costs for people with Medicare. Local resident Pete Villareal said inflation had taken a toll on his family.
“It’s harder these days, having to pay for medicine with people getting sick,” he said.
Villareal spend their free time playing bingo to earn extra money.
Harrel Drug Company in Kingsville serves over 25,000 patients.
Owner Nick Harrel told Action 10 News in South Texas that 40% of people are covered by private insurance or Medicare. Only 10% pay out of pocket.
“People on Medicare who benefit from what used to be called the Affordable Care Act will be limited to a $35 per month copayment,” Harrel said.
Harrel still has questions about how the Cut Inflation Act will be implemented, but he said it would make things easier at the pharmacy.
“The computer would take care of the technical part. We wouldn’t have to look up in a book or a catalog how much something costs,” Harrel said.
San Patricio Health Authority Dr. James Mobley said over the next 10 years prescription drugs will become more accessible.
“Insulin, they’ll pay less out of pocket, and vaccines will be free to whoever gets the vaccine,” Mobley said.
It could help people lead a healthier life; In a community with a high number of diabetics.
“We could see cost reductions. They estimate that over the next 10 years it will save $288 billion,” Mobley said.
Implementation of the prescription drug provisions will come into force next year.
To view the timeline of the Reducing Inflation Act, click here.