VP Harris Visits the Senior Center to Discuss Inflation Reduction Act’s Impact on Medicare Beneficiaries

New Law Will Lower Prescription Drug Prices for Medicare Beneficiaries and Limit Medicare Drug Plan Out-of-Pocket Costs

DURHAM, NC – Senior PharmAssist welcomed Vice President Kamala Harris to the Durham Center for Senior Life on Thursday, September 1 to announce the Biden-Harris Administration's commitment to lowering what Medicare beneficiaries pay for medicines through the Inflation Reduction Act of 2022. The Vice President met with older adults and advocates to discuss how the bill will lower the cost of prescription drugs and expand health care access for people across the country.

Older adults and advocates had the chance to share their stories with Vice President Harris about their most pressing concerns, which included medication costs, the need to ensure medications are used safely, and how best to provide information about the law in culturally competent ways.

Governor Roy Cooper, Congressman David Price and the Administrator for the Centers for Medicare and Medicaid Services (CMS), Chiquita Brooks-LaSure, and Durham Mayor Elaine O’Neal were also in attendance to support the new legislation. Governor Cooper added that North Carolina can also improve the health of more North Carolinians by expanding Medicaid noting that “it’s the moral thing to do but also the smart thing to do.”

“Across our nation, seniors with chronic medical conditions are paying as much as $10,000 a year for the medications they need to simply stay healthy and stay alive,” said VP Harris. “Seniors who have to choose between paying their rent and filling their prescription; seniors who are forced to cut their pills in half because they can’t afford their full prescription, a prescription for the dosage they actually require — this has got to stop.” The Vice President also shared that the law will provide older Americans with peace of mind, knowing that the medicines they need to stay healthy – and, often, to stay alive – won’t impoverish them.

Gina Upchurch, Senior PharmAssist’s Executive Director, introduced the Vice President and commented, “Vice President Harris has demonstrated her commitment to our nation’s older adults by casting the 51st vote on the Senate floor that led President Biden to sign the Inflation Reduction Act as the law of the land on August 16th.” Gina explained that the new legislation makes significant strides by redesigning the Part D drug benefit. This will help keep medication prices down as opposed to the annual – sometimes stunning - increases.

The Inflation Reduction Act takes critical steps to lower prescription costs for millions of Medicare beneficiaries. It gives Medicare the power to negotiate for lower prices on a limited number of medications that have been on the market for years. It also caps the annual out-of-pocket drug costs at $2,000 beginning in 2025 for those with Medicare drug plans. In 2023, it limits insulin copays to $35 per month for Medicare beneficiaries, imposes penalties on drug manufacturers that raise Medicare drug prices faster than the rate of inflation, and finally, Medicare will begin covering the shingles vaccine like other approved vaccines – with no copayment.

About Senior PharmAssist

Founded in 1994, Senior PharmAssist helps Durham residents 60 and older remain as healthy and engaged as possible – for as long as possible – by focusing on medication access and safety, health education, community referrals, and Medicare insurance counseling. Participants in the program report significant reductions in hospital stays and emergency department visits, among many positive outcomes. Senior PharmAssist is working to serve at least 2,244 individuals this year.