Today, CMS released Inflation Reduction Act (IRA) educational materials that explain the impact of the IRA on CMS programs. Through the IRA, President Biden is delivering on his promise to lower prescription drug costs, make health insurance more affordable, and make the economy work for working families. This law means millions of Americans across all 50 states, the United States territories, and the District of Columbia will save money from meaningful benefits like lower prescription drug prices in Medicare through price negotiation with manufacturers, a yearly cap ($2,000 in 2025) on out-of-pocket prescription drug costs in Medicare, and continued lower health insurance premiums through HealthCare.gov and the State-Based Marketplaces
The Inflation Reduction Act Lowers Health Care Costs for Millions of Americans
