Dr. Heidi Syropoulos, Independence Blue Cross Medical Director of Government Markets, appeared on NBC10’s Philly Live program for a Healthy You segment focused on important information Medicare recipients should know about the Inflation Reduction Act.
Syropoulos discussed how for Medicare recipients, the Inflation Reduction Act is designed to help expand benefits, lower drug costs, and provide meaningful financial relief, both now and in the long run. Among the specific changes she mentioned that are part of the IRA:
- Insulin drug costs for Medicare recipients are now capped at $35/month
- Drug companies must provide rebates if they raise prices faster than inflation for Medicare-covered drugs
- Vaccines are now offered for free for Medicare recipients.
- Starting in 2025, Medicare Part D will limit annual out-of-pocket prescription drug costs to $2,000.