As the nation celebrates the second anniversary of the Inflation Reduction Act of 2022 (IRA), Congressman Al Green reflects on the transformative impact this landmark legislation has had on lowering prescription drug prices and expanding access to affordable healthcare. Proudly voting in favor of the IRA, Congressman Green highlights how the Biden-Harris Administration has empowered the Centers for Medicare & Medicaid Services (CMS) to negotiate reduced prices for essential medications, benefiting millions of Americans, including those in his Ninth Congressional District of Texas.

Under the IRA, CMS has successfully negotiated lower prices for 10 major prescription drugs, including widely used medications such as Eliquis, Jardiance, Xarelto, Januvia, and Farxiga. These price reductions are part of a broader effort by the Biden-Harris Administration to tackle rising healthcare costs, with a special focus on supporting seniors and underserved communities.

The IRA has already delivered significant results, decreasing the average healthcare coverage cost by $2,400 per family. Notably, the legislation capped insulin prices at just $35 per month for seniors on Medicare and limited annual out-of-pocket drug expenses for seniors to $2,000. This is a major relief for Medicare beneficiaries, especially those in Texas’ Ninth Congressional District, where 29,000 individuals will collectively save $5.7 million on prescription medications in 2024. By 2025, those savings are expected to climb to $11 million, benefiting 33,000 beneficiaries in the district.

“Reducing drug costs is essential for ensuring that seniors, individuals with disabilities, and underserved communities can access the healthcare they need,” said Congressman Green. “The successful negotiation of lower prices for life-saving medications like insulin is a critical step forward in alleviating the financial burden on families. As we continue to make strides, I remain committed to ensuring that every person, regardless of their economic background, has the opportunity to live a healthier life without the stress of excessive prescription costs.”

The Inflation Reduction Act stands as a testament to the Biden-Harris Administration’s commitment to healthcare reform, and Congressman Green remains a vocal advocate for these critical policies that help improve the lives of Americans across the nation. With more milestones to come, the IRA is poised to deliver even greater savings and access to affordable healthcare in the years ahead.

For more info, visit algreen.house.gov