Senator Gillibrand Fought to Pass the Inflation Reduction Act, Which Included Provisions to Expand Medicare Benefits and Negotiate Lower Drug Prices
Following the Biden-Harris administration’s announcement of historic Medicare savings and lower costs for 10 commonly used prescription drugs, Senator Gillibrand released the following statement:
“The cost of life-saving prescription medicine is far too high in America. Today, the Biden-Harris administration delivered historic savings that will lower the cost of prescription drugs and put money back in the pockets of everyday Americans. The new cost-saving measures and the $6 billion in predicted savings for the Medicare program are proof that the Inflation Reduction Act is working for the American people. Democrats are fighting to expand Medicare benefits and reduce prescription drug prices because access to high-quality, affordable health care is a human right, not a privilege.”
In a historic moment that will help lower prescription drug prices for millions of people across America, the Biden-Harris administration announced that it has reached agreements for new, lower prices for the first 10 drugs selected for negotiations. These negotiated drugs are some of the most expensive and most frequently prescribed in the Medicare program and are used to treat conditions such as heart disease, diabetes, and cancer. The new prices will go into effect for people with Medicare Part D prescription drug coverage beginning January 1, 2026.
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