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Friends,

As you may know, President Biden signed the Inflation Reduction Act into law — historic legislation to lower costs for American families.

One of the main components of this bill tackles the crushing costs of health care and prescription drugs. 

I wanted to share a quick update on what these changes mean for you and your family and when you can expect them.

The Inflation Reduction Act will take effect in phases.

In 2023,

• Insulin copays will be capped at $35 per month for Medicare Part D beneficiaries.
• Affordable Care Act subsidies, which lower insurance premiums for Iowans, will be extended through 2025.
• Medicare Part D will cover adult vaccines for free to help older Iowans access vaccines like shingles.
• Drug prices will be capped at the rate of inflation, so prices do not rise drastically in times when money is already tight for Iowans.

In 2024,

• Medicare Part D health care premium hikes will be capped at no higher than 6% through 2030.
• More low-income Iowans covered under Medicare Part D will be eligible for full Low-Income Subsidy benefits.

In 2025,

• Iowans covered under Medicare Part D will pay no more than $2,000 out-of-pocket for their prescription drugs per year.

In 2026 and beyond,

• Medicare-negotiated drug prices will come into effect, allowing Iowans access to more affordable drugs.

These are monumental changes that will help Iowans get the care they need and keep more money in their pockets.

This is something that I've fought for since the day I came to Congress, and I am thankful to have been able to make this happen for Iowans.

Be well, 

Cindy