How Inflation Reduction Act reduces healthcare costs

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Published Aug 19, 2022, 12:59 PM

President Biden signed the Inflation Reduction Act into law earlier this week. Part of the legislation lowers the prices of prescription drugs - and puts money back in the pockets of seniors. 

The new law requires Medicare to start negotiating the price of certain drugs, caps seniors’ annual out-of-pocket costs for prescription drugs in Medicare Part D and limits the cost of insulin to $35 a month in Medicare.

KRLD's John Liddle talked with Bill Sweeney, Senior Vice President of Government Affairs at AARP about how this bill impacts older Americans.

Image: Darren415  Getty Images

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