Year: 2022

Affordability, Affordable Care Act, Covered California, Federal, Medicare

President Biden Signs Historic Health Bill for Lower Premiums and Prescription Drug Prices

President Biden today signed the Inflation Reduction Act, the most significant advancement in addressing health care costs since the Affordable Care Act. The law will lower prescription drug prices by allowing the government to negotiate prices, while also capping out-of-pocket and insulin costs in Medicare. It also prevents pricey premium spikes for 1.5 million enrollees in Covered California.