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Statements by CMS
Leadership on President Biden Signing Inflation Reduction Act into Law
Today, leaders of the Centers for
Medicaid & Medicare Services issued the following statements after
President Biden signed the Inflation Reduction Act into law: CMS
Administrator Chiquita Brooks-LaSure:
“The historic Inflation Reduction Act builds on the Biden-Harris
Administration’s efforts to meaningfully lower health care costs for people
across the country. Millions of people with Medicare coverage will
benefit from lower drug prices, a $35 monthly co-pay cap for insulin, a limit
on out-of-pocket expenses in Medicare Part D, and reduced costs under
Medicare’s new ability to negotiate drug prices in the years ahead. In
addition, the enhanced tax credits for the Affordable Care Act Marketplaces
will continue for three years to help people afford their premiums and
connect to coverage during the upcoming 10th Open Enrollment Period. CMS will
be working with people covered by our programs, health industry stakeholders,
states, and more as we work to make the law a reality for people across the
country.” CMS
Deputy Administrator and Director of the Center for Medicare Dr. Meena
Seshamani: “The Center for Medicare is ready to
implement the historic provisions within the Inflation Reduction Act. We’re
working closely with the HHS Secretary and the CMS Administrator to hit the
timelines outlined in the law. The Inflation Reduction Act’s historic reforms
will provide financial relief to the millions of seniors and people with
disabilities who are struggling to afford the life-saving drugs they need and
deserve. Expanded access and improved benefits including a $35 monthly
insulin co-pay cap, a limit on out-of-pocket expenses in Medicare Part D,
free vaccines and reduced costs under Medicare’s new ability to negotiate
drug prices will ensure Medicare is more affordable and equitable both now
and for future generations.” Quote from CMS Deputy Administrator and
Director of the Center for Consumer Innovation and Insurance Oversight
(CCIIO) Dr. Ellen Montz: “The
passage of the Inflation Reduction Act means millions across the country will
continue to see substantial savings, ensuring critical access to insurance
coverage and allowing consumers to keep more money in their pockets. Under
the leadership of the HHS Secretary and the CMS Administrator, CCIIO is
excited to make these savings available to the American people during the
upcoming Open Enrollment period starting November 1, 2022.” HHS Secretary Xavier Becerra issued a
statement on the signing of the Inflation Reduction Act linked here:
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Centers for Medicare
& Medicaid Services (CMS) has sent this update. To contact Centers for
Medicare & Medicaid Services (CMS) go to our contact
us page. |
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