On 8-7-22 H.R. 5376 – Inflation Reduction Act of 2022 passed the senate
https://www.congress.gov/bill/
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/