Maloney Touts Prescription Drug Savings for Seniors at Armonk Town Hall

Newburgh, New York- Today, Rep. Sean Patrick Maloney hosted a town hall with Westchester County Executive George Latimer in Armonkto highlight how the Inflation Reduction Act will lower prescription drug costs for seniors and answer their questions on the new law and other subjects. The Inflation Reduction Act caps out-of-pocket prescription drug expenses for seniors, lowers prices by allowing Medicare to negotiate with pharmaceutical companies, and reduceshealth care costs for millions of Americans by extending premium support under the Affordable Care Act.

"Big pharmaceutical companies have been price gouging seniors in the Hudson Valley for far too long. With the Inflation Reduction Act, Democrats are delivering long-overdue relief to make seniors' drug costs affordable," said Rep. Maloney. "From capping out-of-pocket expenses on prescription drugs at $2,000 a year to limiting the cost of insulin to $35 a month for folks on Medicare, the Inflation Reduction Act will give seniors the financial security they need in retirement. It was a pleasure to host a town hall at the Armonk Senior Center today to share this good news and discuss how this new law will help them."

Rep. Maloney was joined by Westchester County Executive George Latimer and spoke to a group of more than 30 seniors at the Bristol at Armonk assisted-living facility. Full footage of their remarks and the town hall can be found [here].

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Background on the Inflation Reduction Act's Healthcare Provisions:

• Cutting Health Care Costs for Seniors on Medicare:
  • For the first time, Medicare will be able to negotiate drug prices, dramatically lowering costs for seniors.
  • Seniors enrolled in Medicare Part D, which 130,000 seniors in NY-18 are eligible for, will have their out-of-pocket drug costs capped at $2000 per year, starting in 2025.
  • Caps Medicare beneficiaries' insulin costs at $35 a month.
  • Expands Medicare Part D extra help for premiums and copayments by increasing the income eligibility to 150% of the federal poverty level.
• Reducing Monthly Expenses:
  • Extends Affordable Care Act premium support that helped more than 3,000 people in NY-18 gain health insurance coverage in 2021, saving the average family $800 per year.
  • $0 copayment for vaccines in Medicare Part D, Medicaid, and the Children's Health Insurance Program (CHIP).

• More information on the Inflation Reduction Act is available [here].

Additional Work by Rep. Maloney to Support Seniors:

Rep. Maloney has fought to support seniors by lowering costs and protecting Social Security and Medicare throughout his time in Congress. Information on select recent efforts is available below:

• Rep. Maloney worked to expand access to health care for seniors by voting for H.R. 4040,the Advancing Telehealth Beyond COVID-19 Act. This legislation will extend telehealth flexibilities for Medicare beneficiaries so they can continue to be seen by their doctor through video and audio-only visits, regardless of their location.
• Rep. Maloney helped pass the Build Back Better Act through the House, which included provisions to increase the quality of care for seniors:
  • Expand Medicare coverage to include hearing aids and other hearing assistance care.
  • Invest $150 billion for home-based senior and disability care services.
• Rep. Maloney voted for H.R. 5914, the Empowering States to Protect Seniors from Bad Actors Act, which will increase protections against scams and protect seniors' savings. Rep. Maloney has been a leading advocate in the effort to address predatory robocalls and other malicious scam techniques.
• Rep. Maloney voted for H.R. 2954, the Securing A Strong Retirement Act, legislation to help more Americans save for retirement and to protect those hard-earned savings.

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