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President Biden’s prescription drug law, the Inflation Reduction Act, was signed into law on August 16, 2022. This new law provides meaningful financial relief for millions of people with Medicare by expanding benefits, lowering drug costs, and strengthening Medicare for the future.
Thanks to the President’s new lower cost prescription drug law, the lives of Medicare enrollees are changing for the better. The benefits for seniors and people with disabilities include:
The President’s FY 2025 budget builds on the Inflation Reduction Act and lowers the cost of prescription drugs for even more Americans, including the 189 million Americans under age 65 with private insurance coverage, by proposing to:
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For general media inquiries, please contact media@hhs.gov.