Healthcare leaders are calling on Congress to pass the Inflation Reduction Act, which would, among other things, help lower the cost of healthcare.
The legislation would enhance premium tax credits for people who buy their own health insurance, allow Medicare to negotiate prescription drug prices, and cap out-of-pocket costs for seniors at $2,000.
"The estimates show that families will save on average about $2,400 a year with the extension of the premium tax credits," says Anne Packham, Marketplace Project Director at Primary Care Access Network. "No family will pay more than 8.5 percent of their income on coverage."
The bill passed the Senate along party lines, with the Vice President casting the deciding vote. The House is expected to take up the bill later this week.
Democratic Congressman Darren Soto of Kissimmee is urging his colleagues in the House to pass the measure. Central Florida seniors will see savings if it passes.
"At $2,000 a year in in out of pocket expenses, we could see senior save anywhere from $1,500 to over $7,000 for your average senior in Florida," says Soto. Other provisions apply to seniors, like a cap on the cost of insulin at $35.
