Under the Inflation Reduction Act, out-of-pocket costs for insulin were capped at $35 a month for Medicare beneficiaries starting this year. Biden called for Tuesday night to extend that insulin cap to people covered under private insurers. The proposal has a slim chance of passing a divided Congress."There are millions of other Americans who do not or are not on Medicare, including 200,000 young people with Type 1 diabetes who need this insulin to stay alive," Biden said.
Biden revived calls in his speech to permanently extend Affordable Care Act subsidies, which the White House claims have lowered annual insurance premiums by an average of $800 per person. Under the Inflation Reduction Act, the enhanced subsidies were extended through 2025 for those who earn more than four times the federal poverty level, roughly $54,000 for an individual.
Republican lawmakers seized on the opportunity to poke holes in the Democratic legislation, which they say will stunt health research and drive up costs.