On Tuesday, President Joe Biden signed a $740 billion package into law enacting some of the biggest changes to U.S. healthcare since the passage of the Affordable Care Act over a decade ago.
The Inflation Reduction Act allows Medicare to negotiate drug prices starting in 2026, limits out-of-pocket expenses in Medicare Part D, caps insulin co-pays for Medicare beneficiaries at $35 a month and extends enhanced subsidies for ACA health insurance plans for low-income beneficiaries another three years.