SAN DIEGO (KGTV) — Just 24 hours after President Biden signed the Inflation Reduction Act into law, Health and Human Services Secretary Xavier Becerra held a virtual news conference breaking down the impact this will have on California residents.
As it stands right now millions of Californians dealing with conditions such as cancer, MS, and lung disease face thousands of dollars in out-of-pocket prescription drug costs. This new law will implement a $2,000 out-of-pocket cap taking effect in 2025.
“Parents don't have to choose between seeing a doctor for their child or putting food on the family table," said Becerra.
Under this law, insulin co-pays will also be capped at $35 a month. A life-saving drug that about 333,000 Californians who receive Medicare used in 2020.
“Medicaid recipients won't have to ration their doses because they can't afford what the doctor prescribed.”
Also covered in this law, Californians will get some relief from inflated health plan premiums, which in turn gives more people access to affordable health care.
This law will also cover cost sharing for some vaccines such as shingles.
