The Inflation Reduction Act Gives Medicare the Power to Negotiate Prescription Drug Prices & Caps Medicare Out-of-Pocket Drug Costs at $2,000 Per Year

HENRICO, V.A. — On Wednesday, September 7, U.S. Representative Abigail Spanberger will join AARP Virginia to speak directly with Virginia seniors about how the Inflation Reduction Act — which Spanberger voted to pass last month and the President signed into law — will lower their prescription drug costs.  

The Inflation Reduction Act will lower prescription drug costs for Virginia seniors by finally giving Medicare the power to negotiate the price of certain prescription drugs — a provision Spanberger has long fought to move forward. Additionally, the legislation will strengthen Medicare drug coverage by capping seniors’ out-of-pocket prescription costs at $2,000 per year. And for the more than 74,000 diabetic Virginians enrolled in Medicare, the legislation will put a cap of $35 per month on the cost of their insulin.

During Wednesday night’s interactive event, Spanberger and AARP Virginia will celebrate this long-overdue progress and answers questions from Virginia’s Medicare recipients. CLICK HERE for the event’s sign up link.

“At a time marked by high prices, many of Virginia’s seniors are forced to make tough financial decisions due to sky-high prescription drug costs. But with the Inflation Reduction Act, we are finally taking steps to lower these costs, increase fairness, and give seniors some much-deserved breathing room during their golden years,” said Spanberger. “I want to thank AARP Virginia for being fierce advocates for their members and for all Medicare beneficiaries across the Commonwealth. This telephone town hall will be an opportunity to reach Virginia seniors in their homes, share exciting updates about this legislation, and hear questions directly from the people I serve. I look forward to many of our neighbors joining and sharing their thoughts.”

WHO:

U.S. Representative Abigail Spanberger

Jim Dau, State Director, AARP Virginia

WHEN: 6:35pm-7:35pm ET, Wednesday, September 7, 2022

DETAILS: To be connected to the telephone town hall and ask a question, seniors and their families are asked to register here. The event link will also be livestreamed on AARP Virginia’s Facebook page and shared on Spanberger’s Facebook page during the event.

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