(WWLP) – Jim McGovern, chairman of the House Rules Committee, released a new report on September 8. In this report, a family in the Massachusetts 2nd Congressional District details how inflation makes prescription drugs more affordable for Medicare recipients and lower health insurance premiums. reduction method.

“For too long, CEOs of billionaire corporations and insurance companies have forced families to choose between paying medical bills, including life-saving drugs and insurance, or putting food on the table. With the Inflation Reduction Act now law, President Biden and Democrats in Congress are prioritizing people over politics to keep out of control health care costs in check. I am proud that I voted for this transformative law to help.” McGovern said.

There are two reports on the benefits of the Inflation Reduction Act. One is for health insurance provisions and the other is for Medicare for District 2 residents.

The reasons for these reforms are exemplified by the Commission on Oversight and Reform’s groundbreaking drug pricing study, which explores how the pharmaceutical industry’s unrestrained pricing practices lead to higher prices and runaway costs for Americans. clarified.

Key highlights of the report include:

• By extending a key tax credit that expires this year, the Reducing Inflation Act will allow 18,000 people in districts currently enrolled in subsidized market health insurance through the Affordable Care Act to average their premiums next year. We can help you save $620.

• Thanks to the Inflation Reduction Act, a family of two adults and two children in the district with a household income of $75,000 will save $2,832 in premiums next year.

• For the estimated 10,000 Medicare beneficiaries in the district who receive insulin, the new law limits monthly copayments for insulin products to $35 per month.

• If the Reducing Inflation Act drug pricing provisions were fully enforced in 2020, the total cost of prescriptions filled by district Medicare beneficiaries would be $36 million lower, saving district Medicare beneficiaries a total of $11 million We could have done it. Insurance premiums and out-of-pocket costs.