U-S Health and Human Services Secretary Xavier Becerra made a trip to Charlotte Friday. The secretary joined local officials highlighting the Biden administration’s efforts to reduce health care costs for people on Medicare.
Becerra was joined by Charlotte’s two Democratic representatives in Congress -- Jeff Jackson and Alma Adams. They spoke inside the locally-owned Doc’s Pharmacy on Freedom Drive, in a lower income area that’s been designated one of Charlotte’s Corridors of Opportunity.
Becerra said as of January 1st, the price of a month’s supply of insulin has been capped at $35 for Medicare recipients. That’s thanks to the bipartisan Inflation Reduction Act.
"If you find out you paid more than $35 dollars for your insulin, and you’re a Medicare recipient, starting January 1, please, contact your insurer," Becerra said. "You are entitled to get your money back beyond the $35."
The new law also allows Medicare to negotiate prices this year for 10 drugs, though the new prices won’t take effect until 2026. More negotiations will follow. Starting in 2025, the law will also cap yearly out-of-pocket expenses for Medicare recipients at $2,000.