The Inflation Reduction Act is Helping Women in Pennsylvania Save Money on Health Care

TL/DR –

The Inflation Reduction Act of 2022 has resulted in more than 1.5 million women in Pennsylvania saving money on healthcare costs. The act includes provisions that cap insulin prices at $35, eliminate out-of-pocket payments for vaccines for seniors on Medicare, and cap prescription drug costs at $2,000 per year starting in 2025. Additionally, the act gives the federal government the right to negotiate the price of certain prescription drugs covered by Medicare, resulting in price drops starting in 2026.

Pennsylvania Women Benefit from Government Program Reducing Health Care Costs

The Federal Inflation Reduction Act passed in late summer 2022 has positively impacted over 1.5 million women in Pennsylvania by making a range of medical services less expensive.

Who Is Benefiting from the Inflation Reduction Act?

The Inflation Reduction Act was primarily celebrated for its climate change and clean energy provisions, but its health care provisions should not be overlooked:

• Diabetics: The law has capped Medicaid insulin prices at $35, which has prompted major insulin providers to standardize this cap for all customers, benefiting an estimated 76,535 Pennsylvanians diagnosed with diabetes annually.
• Seniors on Medicare needing vaccines: Over 2 million Pennsylvanians on Medicare are now exempt from out-of-pocket costs for many vaccines that required payment in the past.
• Seniors on Medicare requiring prescriptions: A $2,000 yearly cap on prescription drug costs will commence in 2025, implying a maximum monthly cost of $167, a significant saving for patients with serious conditions like cancer and rheumatoid arthritis.
• Seniors on Medicare using specific prescription drugs, particularly women: Ten prescription drugs, largely used by women who spent $1.55 billion on them in 2022, will have their prices negotiated by the federal government under the Act, with price reductions expected to start in 2026.

While the Inflation Reduction Act’s health care provisions also aid Pennsylvania’s male population, factors like the gender wage gap, occupational segregation into low-wage jobs, lack of jobs with supportive child care policies, and domestic violence all contribute to lower incomes and less health insurance for women in the US, making these cost reductions especially beneficial.

Who’s Responsible for the Inflation Reduction Act?

The Inflation Reduction Act, signed into law by President Joe Biden in August 2022, was passed exclusively by Democrat votes, including Pennsylvania Senator Bob Casey. It is funded through tax and prescription drug reform.

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