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/

CMS Seeks Public Feedback to Improve Medicare Advantage

Medicare is soliciting public comment via a request for information:

www.cms.gov/newsroom/press-releases/cms-seeks-public-feedback-improve-medicare-advantage

We’re having an open house!

Stop by for snacks and refreshments as we celebrate the one-year anniversary of our new home in Roosevelt Office Park. Pick up some free swag and enter for a chance to win door prizes.

The event will be held August 4^th from 1-4 pm. 

Hope to see you there!

More Than Half of All People on Medicare Do Not Compare Their Coverage Options Annually

Each year, people with Medicare have the opportunity to review their coverage options and change plans during the open enrollment period (October 15 to December 7). Medicare beneficiaries with traditional Medicare can compare and switch Medicare Part D stand-alone drug plans or join a Medicare Advantage plan, while enrollees in Medicare Advantage can compare and switch Medicare Advantage plans or elect coverage under traditional Medicare instead. For 2021, the average Medicare beneficiaries can choose among 33 Medicare Advantage plans and 30 Part D stand-alone prescription drug plans (PDPs).

The American Rescue Plan Will Deliver Immediate Economic Relief to Families

The current public health crisis and resulting economic crisis have devastated the health and economic wellbeing of millions of Americans. From big cities to small towns, Americans – particularly people of color, immigrants, and low-wage workers – are facing a deep economic crisis. More than 9.5 million workers have lost their jobs in the wake of the pandemic, with 4 million out of work for half a year or longer.