“We will cap out-of-pocket drug costs for seniors, and ensure that effective treatments for chronic health conditions are available at little or no cost.”
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Under the Inflation Reduction Act, signed August 16, 2022, annual out-of-pocket drug costs for Medicare Part D enrollees were capped at $2,000 beginning January 1, 2025, and Medicare cost-sharing for insulin was capped at $35 per month starting in 2023, with recommended vaccines made free. The out-of-pocket cap for seniors - the promise's first component - was enacted and took effect during Biden's term. The broader pledge that effective treatments for chronic health conditions be available at little or no cost was realized only for select products such as insulin and vaccines, so the promise was partly kept.
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