New York U.S. Senator Kirsten Gillibrand promoted the Inflation Reduction Act at Mid-Hudson Regional Hospital Poughkeepsie Thursday, saying it will lower prescription drug prices and health care costs for millions of Americans.
The Democrat says the law will allow Medicare to negotiate directly for the price of prescription drugs in 2023; cap Medicare out of pocket drug costs at $2,000 a year; provide free vaccines for seniors; cap monthly cost-sharing for insulin at $35 and expand premium and co-pay insurance for prescription drugs for low-income individuals.
“Unfortunately, some of the drug companies have been price gouging in the past three years of the pandemic. So, the Inflation Reduction Act lowers those prices,” said Gillibrand.
Gillibrand adds the package will prevent an estimated 49,000 New Yorkers from losing their health insurance.
