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Pennsylvanians are starting to get much-needed relief from health care and prescription costs, thanks to President Biden’s Inflation Reduction Act (IRA).
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Passed with Pennsylvania Senator Bob Casey’s leadership just over a year ago, the IRA caps out-of-pocket prescription expenses, limits monthly insulin costs to $35 for Medicare recipients, and allows Medicare to negotiate directly with drug companies to reduce prescription medication costs. In this issue of In Union, we dive deeper into the IRA to examine how the legislation makes health care more affordable for Pennsylvania’s working families and seniors.
“AARP Pennsylvania thanks Senator Bob Casey for supporting this critical legislation and moving one step closer to real relief for seniors.” Source: PRNewswire, 8/7/2022
REAL PEOPLE. REAL STORIES ABOUT HEALTH CARE AND PRESCRIPTION DRUG COSTS.
Ginny B. from Mechanicsburg, PA, lives with LEMS syndrome. She relies on a drug that costs hundreds of thousands of dollars a year, and she used to worry about how she would afford this life-saving medication. But thanks to the IRA’s provision capping out-of-pocket prescription drug costs for Medicare beneficiaries, soon Ginny and others like her won’t pay a dime over $2,000 per year for their prescriptions.
The Inflation Reduction Act has eliminated vaccine copays for Medicare recipients, enabling seniors like Susan R. to afford long-awaited vaccinations. As a senior on a fixed income, the $400 copay for the shingles vaccine had been cost-prohibitive. “But I was relieved to see I could get it at no cost after the Inflation Reduction Act passed. It’s been a major blessing to get the shingles vaccine with no copay; this is a life-changing policy.”
Source: invest.gov
Source: CAP Action
Making Prescription Drugs More Affordable The Inflation Reduction Act (IRA) aims to reduce prescription drug costs in several ways, including by allowing Medicare to negotiate prices directly with pharmaceutical companies. This was a vital component of the legislation for both President Biden and Senator Casey. •
Drug price negotiation is a game-changer. For decades, the pharmaceutical industry has put profits ahead of patients struggling to afford needed medications. Finally, Medicare can negotiate directly with drug companies for lower prices.
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Improving access to medications at affordable prices. The first round of negotiations will include 10 of the most expensive, commonly-prescribed drugs, which cost $50.5 billion—nearly 20% of the total Medicare prescription drug costs in one year.
Q. How is all this being paid for? A. By taxing corporations and the super-rich. Here are the details: 1. New 15% minimum tax on the largest corporations, so they start paying their fair share. 2. No new taxes on any person making less than $400,000 per year. Taxes will ONLY be raised on the richest individuals and corporations—they’ve made billions during the pandemic and can afford to pay a whole lot more than they do right now. 3. Reduces the national debt and generates more than $2 trillion in savings. Sources: CNN, 11/19/2021; CNBC, 4/28/2021; Vox, 11/19/2021; PBS NewsHour, 11/19/2021
Drug Name
Commonly Prescribed For
Eliquis
Prevention and treatment of blood clots; Reduction of risk for stroke
Jardiance
Diabetes
Xarelto
Prevention and treatment of blood clots; Reduction of risk for stroke
Januvia
Diabetes
Farxiga
Diabetes; Heart failure; Chronic kidney disease
Entresto
Heart failure
Enbrel
Rheumatoid arthritis; Psoriasis; Psoriatic arthritis
Imbruvica
Blood cancers
Stelara
Psoriasis; Psoriatic arthritis; Crohn’s disease; Ulcerative colitis
Fiasp & NovoLog
Diabetes
Sources: CNBC, 8/10/2023; CAP Action, 8/30/2023; The Hospital and Healthsystem Association of Pennsylvania, 9/12/2023
Want to see how your member of Congress voted? Scan this QR code or visit clerk.house.gov/Votes/2022420 to look up how your member of Congress voted on the IRA.
PENNSYLVANIA HEALTH CARE SAVINGS BY THE NUMBERS: •
Nearly 1 million Pennsylvania seniors will save an average of $467 a year from the annual cap on out-of-pocket costs for prescription drugs.
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The $35-per-month cap on insulin costs provides savings to more than 80,000 Pennsylvania seniors.
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More than 450,000 Pennsylvanians will benefit from the initial round of Medicare drug price negotiations.
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With subsidies from the IRA that reduce costs, 76,000 Pennsylvanians can afford health care coverage.
To find out if you are eligible for savings, visit: medicare.gov/about-us/prescription-drug-law Sources: The Keystone, 8/17/2023; Pittsburgh Post-Gazette, 8/30/2023
ABORTION RIGHTS ARE AN ECONOMIC ISSUE FOR WOMEN AND FAMILIES Around the same time as the IRA passed, Republican leaders introduced a bill that would ban abortion in all 50 states. True economic security for women and families depends on access to essential services, including birth control and abortion. Studies show that a person who seeks an abortion but is denied is more likely to fall into poverty than one who is able to get an abortion. Access to birth control and abortion gives women the freedom and economic security to make the best decisions for themselves and their families. Sources: NPR, 9/13/2023; Reuters, 1/18/2018
Biden-Harris: Preserving Reproductive Rights After the reversal of Roe v. Wade, the Biden-Harris Administration immediately took several steps to protect access to reproductive health care. As of June 23, 2023, President Biden has signed three executive actions:
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Protecting the right to travel out of state to receive medical care
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Safeguarding access to affordable, high-quality contraception
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Ensuring access to emergency medical care
To learn more about how the Administration is defending women’s rights and health care, visit: hhs.gov Sources: CNN, 8/3/2022; The Commonwealth Fund, 8/2/2022; Reuters, 6/23/2023
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In Union Pennsylvania PO Box 332 Kennett Square, PA 19348
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Paid for by In Union USA (www.inunionusa.com) and not authorized by any candidate or candidate’s committee. In Union is a project supported by a group of unions. We’ll provide you with research on issues that affect working people’s lives, examine the records of elected officials on those issues, and give you ways to hold your elected representatives accountable. In Union is not affiliated with, does not take contributions from, and does not make contributions to any candidates or political parties. For more information, please visit www.inunionusa.com.
STRIKING UAW MEMBERS WELCOME SUPPORT FROM PRESIDENT BIDEN AND LEADERS ACROSS THE COUNTRY Joining striking workers in Michigan, President Biden sent a clear message of support for unions and working people.
“For a sitting president for the first time in our history to visit a picket line, I think that goes a long way in showing where he stands with working-class people.”
“We’re out here on the frontline taking the brunt for everybody, losing money. [President Biden’s] support feels good.... It hits home with people.”
—Shawn Fain, President of UAW
—Larry Hearn, UAW committee member
Source: PBS NewsHour, 9/26/2023
Source: The Guardian, 9/26/2023
Senator Bob Casey joins striking UAW workers in Bucks County Speaking with striking UAW members, Senator Casey said workers “oughta be able to share appropriately in that credit” for helping to build “some of the strongest companies in the world…. All these workers are asking for is basic fairness.” Source: The Philadelphia Inquirer, 9/26/2023
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