2nd Anniversary of the Inflation Reduction Act

Sections: Key Messaging | Demographic & State-by-State data | Digital Week of Action | Sample Social Media  | Resources & Where to Get Help 

Key Messaging:

• Since the Inflation Reduction Act was signed into law millions of people with Medicare have been saving money on their prescription drug costs.  
• Thanks to this 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 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