Democrats in Congress and the Biden-Harris Administration Continue to Cut Costs for Seniors

On Friday, August 16th, our office will bring together older Americans from around California’s 44th District for our Annual Senior Briefing and Luncheon at the Carson Community Center. This is my favorite event to host each year – older Americans come out for a morning of health screenings, games, informational resources, a hot meal and much more. Healthcare is expensive, but accessible preventative care can improve health outcomes for the patient and lower overall costs for the healthcare system. But it’s not always accessible. That’s why our office brings together local community officials, organizations, nonprofits, and agencies to bring resources like routine vaccinations, blood pressure checks, glucose screenings, eye exams, and other services directly to our community at no cost to them.

And back in Washington, DC we continue to work to lower healthcare costs in Congress. The Biden-Harris Administration and Democrats in Congress have passed some of the most consequential legislation to bring down costs on prescription drugs, healthcare, and more. As corporations have raised prices on goods, driven costs up with added fees, and increased rates on premiums for insurance, the Biden-Harris Administration has worked to save older Americans money.

The Inflation Reduction Act (IRA), which I supported, and President Biden signed into law two years ago, has helped more older Americans than ever afford their prescription drugs. As of this year, the law expands the Extra Help Program under Medicare Part D, which helps older Americans who cannot afford their prescription drugs. Nearly 300,000 people with low and modest incomes now benefit from the program’s expansion. The law also caps the price of insulin for those on Medicare at $35 per month – a more affordable price for millions of older Americans who have diabetes, including 1,400 constituents in our district. In addition, this year some people with Medicare Part D have their annual out-of-pocket costs capped at about $3,500.

Thanks to the IRA, starting next year, the annual out-of-pocket prescription drug costs will lower to $2,000 – meaning nearly 19 million people will save around $400 per year on prescription drugs. The law has also allowed Medicare, for the first time, to negotiate lower prices for prescription drugs. Starting in 2026, the negotiated prices will take effect and help bring down the price of certain prescription drugs for millions of seniors.

The Biden-Harris Administration also put in place protections, so families do not receive surprise medical bills. There is still work to be done, as we see some healthcare providers continue to find ways to deliver surprise medical bills, but these protections prevent as many as one million surprise medical bills every month. The Biden-Harris Administration has also taken actions to require companies to show exactly what health care costs they do and do not cover, eliminate “junk fees” (hidden or surprise charges added at the end of transactions) and “facility fees”.

The Biden-Harris Administration and Democrats in Congress are doing everything we can to bring down costs for older Americans. And this is just a small portion of what we’ve done. I hope to see you at our Senior Briefing on August 16th to hear more about what we are doing for older Americans in our community. If you would like to RSVP, please call my office at 310-831-1799.

(*) Congresswoman Nanette Barragan is the Chair for the Congressional Hispanic Caucus (CHC)

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