The Pulmonary Hypertension Association (PHA) joined health care, lawmakers and others Tuesday on the White House lawn to celebrate the signing of the Inflation Reduction Act.
PHA advocated for critical elements of the law, specifically to improve access to medication by increasing prescription drug coverage and decreasing drug prices for Medicare beneficiaries.
Although the changes won’t start immediately, the law will help people in the pulmonary hypertension (PH) community who receive Medicare benefits. It also will help those enrolled in marketplace health insurance plans by capping their out-of-pocket costs and subsidizing premium costs.
Starting in 2025, Medicare beneficiaries will have to pay no more than $2,000 a year for prescription drugs. The law allows people with Medicare Part D coverage to spread their out-of-pocket maximum costs throughout the year with smaller payments. The law also caps beneficiaries’ insulin prices at $35 a month and provides free access to several vaccines, including the shingles vaccine.
The law extends enhanced Affordable Care Act premium subsidies for three more years. It also expands access to no-cost Medicare Part D coverage through low-income subsidies. The subsidies will be available for people who earn 150% of the federal poverty level or less.
Long-term, the law gives Medicare the power for the first time to negotiate a small subset of high-cost art D and Part B drugs.
“Every day, PH advocates share their stories with elected officials and challenge Congress to advance legislation that improves life for the PH community,” said Katie Kroner, vice president of advocacy and patient engagement, PHA. “That advocacy paid off in this legislation.”
The signing of a complex, multi-part law like the Inflation Reduction Act is followed by a long-term regulatory process to implement the law. PHA will monitor that process and advocate with and for the PH community.
If you have questions about choosing your 2023 insurance, don’t miss our PHA Live series on open enrollment. The webinars are set for 2 p.m. EDT every Tuesday in October. Learn more.