![Celebrating the 2nd Anniversary of the Inflation Reduction Act](/sites/default/files/celebrating-2nd-anniversary-inflation-reduction-act.jpg)
Sections: Key Messaging | Demographic & State-by-State data | Digital Week of Action | Sample Social Media | Resources & Where to Get Help
Key Messaging:
- Two years ago on August 16, 2022, the Inflation Reduction Act was signed into law by President Biden. Since then, millions of people with Medicare have been saving money on their prescription drug costs.
- Thanks to President Biden’s and Vice President Harris’s lower cost prescription drug law, the lives of people with Medicare are changing for the better:
- $35 cap per month on each covered insulin product
- Certain recommended preventive adult vaccines are free for people with Medicare prescription drug coverage
- Starting January 1, no one with Medicare prescription drug coverage will pay more than $2,000 in 2025 for their drugs
- The Inflation Reduction Act is the most consequential health care laws since the Affordable Care Act, and is lowering prescription drug costs, making health insurance more affordable, and creating an economy that works for working families.
- Over the last two years, key pieces of the law have already gone into effect, lowering health care costs for seniors and people with disabilities with Medicare.
- Thanks to the law, Medicare finally has the authority to rein in soaring prescription drug costs. That’s good news for people with Medicare who rely on expensive drugs to stay healthy and thrive.
- A landmark part of the Biden-Harris law allows Medicare, for the first time, to negotiate directly with participating drug companies to lower the price of some of the costliest drugs, saving money for people with Medicare and taxpayers.
Demographic & State Data:
- State by state Infographics showing how Medicare enrollees benefit from the Inflation Reduction Act.
- Inflation Reduction Act Research Series: Projected Impacts for Asian, Black, and Latino Medicare Enrollees The Inflation Reduction Act is helping people with Medicare afford their medications, including the 2.1 million Asian, 5.8 million Black, and 5.3 million Latino Part D enrollees.
- Inflation Reduction Act Research Series: Projected Impacts for Women Enrolled in Medicare The law is helping women save thanks to the insulin cost cap, free vaccines, and Low-Income Subsidy program
- Inflation Reduction Act Research Series: Projected Impacts for Rural Medicare Enrollees | ASPE (hhs.gov) Rural Medicare enrollees are saving thanks to the insulin cost cap, free vaccines, and Low-Income Subsidy program.
Digital Week of Action:
Starting on Monday, August 12, HHS is highlighting a different benefit of the Inflation Reduction Act each day, leading up to the 2nd anniversary of the law’s signing on Friday, August 16.
We encourage stakeholders to share information about specific provisions each day, highlight patient stories, and educate on how each provision is helping our communities. Please see below for sample social media content and other ways you can help educate the public about the law.
- Monday, August 12: Spotlight on Free Recommended Vaccines
- Certain recommended vaccines are now free to people with Medicare Part D. This includes RSV, shingles, and Tdap.
- Previously, seniors and other people on Medicare could pay as much as $200 for a shingles vaccine.
- 50 million+ Medicare Part D enrollees in the U.S. can now receive free recommended vaccines.
- In 2023 alone, over 10 million people received a free vaccine.
- Tuesday, August 13: Spotlight on $35 Insulin
- $35 per month (or less) for each Medicare-covered insulin product -- a critical benefit for the people with Medicare who use insulin.
- Wednesday, August 14: Spotlight on New Out-of-Pocket Cap on Costs
- In 2024, some people with Medicare prescription drug coverage who have high drug costs now have their out-of-pocket drug costs capped at about $3,500. In just the first quarter of 2024, over 260,000 people benefited from this cap in the catastrophic coverage phase, meaning they will pay no more out-of-pocket through the remainder of the year.
- Come January 2025, this benefit gets even better when everyone with Part D will have their out-of-pocket costs capped at $2,000. By April 1, 2024, more than 1.7 million people had already reached $2,000 in out-of-pocket costs on their prescription drugs.
- Thursday, August 15: Spotlight on Negotiation Program
- Medicare can now directly negotiate with participating drug companies to get lower drug prices for certain drugs covered under Medicare.
- Ten of the most expensive and most frequently used drugs were selected for the first cycle of negotiations. These drug treat conditions such as diabetes, heart disease, blood clots, and cancer.
- Friday, August 16: 2 Years of Accomplishments
- Additional benefits:
- Drug companies must pay a rebate to Medicare if they raise drug prices faster than inflation.
- Additional savings are available to those eligible for Medicare’s Extra Help program. Starting in 2024, everyone who qualifies for Extra Help pays:
- $0 for Medicare drug plan premium
- $0 for plan deductible
- A reduced amount for both generic and brand-name drugs
- Up to 3 million seniors and people with disabilities could benefit from the Extra Help program now but aren’t currently enrolled. Visit https://www.medicare.gov/basics/costs/help/drug-costs to learn more about the program.
Social Media Content
Hashtags: #InflationReductionAct; #Medicare; #IRAanniversary
Post Copy - Facebook/Instagram/X/LinkedIn: Today kicks off the first day of our Digital week of Action wishing a happy 2nd Anniversary to the #InflationReductionAct! Celebrating two years of making health care accessible and affordable for seniors and people with disabilities. Today is all about free #vaccines!
Graphic Alt-text: Celebrating the 2nd Anniversary of the Inflation Reduction Act.
The Inflation Reduction Act Provides Coverage For: Certain recommended preventive adult vaccines are FREE for people with Medicare Rx drug Coverage
Download & Share
Post Copy - Facebook/Instagram/X/LinkedIn: DYK thanks to the Biden-Harris lower cost Rx drug law, vaccines like RSV, shingles, and Tdap are now free for people with Medicare Part D? Check out how this law is making a difference for seniors & people with disabilities. #InflationReductionAct:
Share
Post Copy - Facebook/Instagram/X/LinkedIn: Cheers to 2 years of making a difference! It’s Day 3 of our Digital Action Week celebrating the #InflationReductionAct! Today is all about affordable insulin. Tell us what it means to you to have the cost of insulin capped at $35/month for you or your loved ones!
Graphic Alt-text: Celebrating the 2nd anniversary of the Inflation Reduction Act
Thanks To The Inflation Reduction Act:
Under Medicare, each covered insulin is no more than $35/Month
Download & Share
Post Copy - Facebook/Instagram/X/LinkedIn: We want to hear from you, but first check out these testimonials about how real patients are saving thanks to the $35 monthly cap on each covered insulin product #IRAanniversary
Share
Post Copy - Facebook/Instagram/X/LinkedIn: It’s Day 3 of our Digital Week of Action celebrating the 2nd anniversary of the #InflationReductionAct! Today we’re zooming in on capping out-of-pocket drug costs!
The #InflationReductionAct created the first ever cap on out-of-pocket drug costs in Medicare Part D. This is a huge step toward lowering drug costs for seniors like Martha. Today, we celebrate this historic law and two years of progress!
Share
Post Copy - Facebook/Instagram/X/LinkedIn: The 10 drugs selected for #Medicare negotiation account for billions in taxpayer dollars. Thanks to the #InflationReductionAct, Americans can finally get a better deal.
Graphic Alt-text: Celebrating the 2nd anniversary of the Inflation Reduction Act.
Download & Share
Post Copy - Facebook/Instagram/X/LinkedIn: Wrapping up a great Digital Week of Action! Highlighting features of the #InflationReductionAct in anticipation of today: 2-year Anniversary of signing the historic #InflationReductionAct into law!
In just 2 years of the #InflationReductionAct, we’ve accomplished so much! Insulin is now capped at $35/month, recommended vaccines are free, and #Medicare FINALLY has the power to directly negotiate drug prices. We can’t wait to build on this progress next year and in years to come!
Graphic Alt-text: Celebrating the 2nd Anniversary of the Inflation Reduction Act.
The Inflation Reduction Act Is:
Capping out-of-pocket costs for drugs covered under Medicare Part D
Improving coverage of certain drugs including insulin and vaccines
Expanding eligibility for financial assistance
Improving Part D benefits
Allowing Medicare to negotiate with participating drug companies for certain drugs covered under Medicare
Download & Share
Resources and Where to Get Help:
- Learn more about the Inflation Reduction Act at LowerDrugCosts.gov
- Call 1-800-MEDICARE to learn more about lowering your drug costs and keeping your hard-earned money in your pockets!
- Visit https://www.medicare.gov/basics/costs/help/drug-costs to find out if you qualify for help with your prescription drug costs.
- Contact your local State Health Insurance Assistance Program (SHIP) at shiphelp.org or call 1-877-839-2675 to get free personalized health insurance counseling.