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On 8-7-22 H.R. 5376 – Inflation Reduction Act of 2022 passed the senate

https://www.congress.gov/bill/117th-congress/house-bill/5376

In part, the bill could provide positive impacts on people covered under the Affordable Care Act as well as Medicare beneficiaries.  It should be noted, effective dates are all different.  See proposed bill attached.

The bill requires the Centers for Medicare and Medicaid Services (CMS) to negotiate the prices of certain prescription drugs that do not have a generic equivalent and that account for the greatest Medicare spending.  Prescription drug manufacturers will have to issue rebates for certain brand drugs without generic equivalents.  under Medicare caps annual out-of-pocket spending at $2,000 in 2025 (with annual adjustments thereafter). It also establishes a program under which drug manufacturers provide discounts to beneficiaries who have incurred costs above the annual deductible beginning in 2025.

If signed into law, The  Inflation Reduction Act – will prevent steep increases in premiums:  8-11-2022 The Senate passed a three year extension (through 2025) of enhanced subsidies for people buying their own health  coverage on the Affordable Care Act Marketplaces (like MNsure here in MN)  Affordable Care Act Subsidies, including to allow taxpayers with income above 400% of the federal poverty line to qualify for the credit.  https://www.kff.org/policy-watch/five-things-to-know-about-renewal-of-extra-affordable-care-act-subsidies-in-inflation-reduction-act/

Certified in Long-Term Care

Kathleen Lamphere and Missy Block successfully completed the master class for long term care designation.

At Lamphere Insurance Group we continually work at professional development in an effort to best assist members in our communities.  Planning for an acute or chronic illness, and the impact on your loved ones, is a tough conversation to have.  Let us come up with a strategy to fit your needs, and your budget.

FAQS ABOUT AFFORDABLE CARE ACT IMPLEMENTATION PART 51, FAMILIES FIRST CORONAVIRUS RESPONSE ACT AND CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT IMPLEMENTATION

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