5 October 2022 - Through the Inflation Reduction Act, 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 US 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
• Continued lower health insurance premiums through HealthCare.gov and the state-based marketplaces

Read CMS fact sheet