For Immediate Release:
Contact: Kelly Broadway, 202-808-8853
Washington, D.C. – Today, Congress will consider important health care issues as part of a massive markup in the House Energy and Commerce Committee, led by Chairwoman McMorris Rodgers and Ranking Member Pallone. However, it is critical heading into an election year to address the failed policies of the so-called Inflation Reduction Act (IRA) and its negative impact on seniors.
The picture of the IRA is coming into focus with each passing month—doubling of beneficiary premiums, fewer Part D plan choices in the history of the benefit, and less treatments and cures.
According to the Kaiser Family Foundation, as a direct result of the Inflation Reduction Act:
- Part D premiums will skyrocket by 21 percent in 2024.
- There will be less than half the number of Part D plan choices since the start of the benefit in 2006.
- Low-income beneficiaries will have access to fewer so-called “benchmark” stand-alone PDPs in 2024 than in any year since Part D started.