Padilla Joins AARP CA to Discuss How the Inflation Reduction Act will Lower Prescription, and Health Care Costs
CALIFORNIA — Today, U.S. Senator Alex Padilla (D-Calif.) co-hosted a statewide telephone town hall with AARP California to discuss how the recently enacted Inflation Reduction Act of 2022, which Senator Padilla voted to pass earlier this month, will lower health care and prescription drug costs for millions of Californians. Senator Padilla was joined by Joe Garbanzos, AARP California State President and thousands of members who listened in to the conversation.
“The Inflation Reduction Act is historic legislation that will make health care and prescription drugs more affordable for millions of Californians,” said Senator Padilla. “Democrats in Congress are taking on special interests and delivering for our seniors and working families. And we couldn’t have done it without the tireless advocacy of organizations like AARP California. I’m proud to join their members today in delivering this message and look forward to continuing to work together.”
“Twenty years ago, the pharmaceutical industry got a sweetheart deal that prevented Medicare from negotiating for lower drug prices, and they’ve been successfully fighting to keep it ever since,” said AARP CA State Director Nancy McPherson. “This bill will finally change that equation and put money back into people’s pockets instead of more profits for Pharma. AARP is grateful to Senator Padilla and his colleagues for passing this historic legislation that will provide relief to millions of Americans.”
The Inflation Reduction Act will deliver important relief to communities facing high inflation and rising health care costs. It extends the American Rescue Plan’s Affordable Care Act premium subsidies, which have helped 1.8 million Californians get and retain health insurance coverage.
The legislation also caps out-of-pocket prescription drug costs at $2,000 per year for California’s Part D Medicare beneficiaries, with the option to break that amount into affordable monthly payments, and includes historic reforms to lower prescription drug prices including allowing Medicare to negotiate prices for the very first time.
More on how the Inflation Reduction Act will cut health care costs for Californians HERE.