Schneider, Schakowsky Celebrate Inclusion of Provision to Lower Prescription Drug Costs for Seniors in Inflation Reduction Act

WASHINGTON - Following the historic passage of the Inflation Reduction Act, Congressman Bradley S. Schneider (D-IL), Member of the Ways and Means Health Subcommittee and the Social Determinants of Health Caucus, and Congresswoman Jan Schakowsky (D-IL), Co-Chair of the House Democratic Task Force on Aging and Families, released the following statement celebrating the inclusion of a provision that expands cost-sharing assistance for low-income people with Medicare, a provision Reps. Schneider and Schakowsky championed through their Lowering Medicare Premiums and Prescription Drug Costs Act.

The provision expanding cost-sharing assistance contributes to ensuringlow-income seniors and people with disabilities will be able to better afford prescription drugs through Medicare Part D. This provision expands the Part D Low-Income Subsidy to help more Medicare beneficiaries afford prescription drug premiums and out-of-pocket drug costs, leading to an increase in health equity across the country.

"Out-of-pocket costs for prescription drugs pose a financial burden to many Americans, with seniors and others living on a fixed income facing often insurmountable financial barriers, said Congressman Brad Schneider (IL-10). "Finances should never prevent Americans from getting the care they need. I'm thrilled to share that the Inflation Reduction Act includes a provision I have long championed to help more older Americans and those with disabilities access the many benefits that Congress created to help. I will continue to work to make health care more accessible and affordable in our country."

"For far too long, I have heard from constituents who have struggled to access assistance to pay for lifesaving medications. The applications to these programs should be as user-friendly as possible," said Congresswoman Jan Schakowsky. "I'm proud to say that a provision I have championed, alongside Rep. Schneider and Sen. Casey, was included in the Inflation Reduction Act. Our provision will ensure that more low-income seniors and people with disabilities have access to the resources they need to be able to afford their medications. No person should have to struggle to get the medication they need to survive."

Currently, Medicare beneficiaries with incomes up to 135% of the federal poverty level (FPL) qualify for full subsidy assistance with their Medicare Part D premiums and prescription drug copays. Beneficiaries with incomes up to 150% FPL would qualify for only a partial subsidy. Under this landmark legislation, seniors, and other Medicare beneficiaries with incomes up to 150% FPL will now be eligible for full assistance.

###

For Immediate Release

Monday, August 15, 2022

Contact: Madeline Flamm

(202) 557-4860

Public link

Please use the above public link if you want to share this noodl on another website.