Friends,

I wanted to make sure you heard about some new cost-saving measures that went into effect earlier this week.

In 2022, I proudly supported the Inflation Reduction Act (IRA), a seismic law aimed at bringing down costs for middle class Americans. It has phased implementation, so new provisions are going into effect all the time. Starting in January 2023, it capped insulin costs for seniors on Medicare at $35/month, which put so much pressure on Big Pharma that several insulin producers agreed to cap costs for most patients in response. It also allowed Medicare to start negotiating other prescription drug prices, which will lower costs for several other drugs soon.

As we ring in 2024, we’re celebrating more new provisions. For the first time ever, there’s a cap on total out-of-pocket prescription drug costs for seniors on Medicare Part D – and next year, the cap will lower even further, saving some seniors thousands annually. There are also new provisions to limit annual premium increases for over 500,000 Virginians enrolled in Medicare Part D, and it also expands programs to help low-income Americans afford prescription drugs. 

I’m glad we’re making progress under the IRA, but I know there’s a lot more work to be done so middle class families aren’t burdened by rising costs. I promise to keep working to make sure we’re building an economy that works better for middle class Virginians. If you want to reach out to me about health care costs or another issue that’s important to you, I encourage you to reach out to me using the form on my Senate website. You can also follow me on Facebook, Instagram, Twitter, or Threads. I look forward to hearing from you.

Sincerely,