Savings will stem from provisions to lower prescription drug prices and cap premiums, drug costs for Medicare recipients
According to a new report from Third Way, Georgians could save thousands on average in health care costs thanks to new provisions in the Inflation Reduction Act and President Biden’s proposed rule fixing the ACA’s “family glitch.” The former will lower drug prices and extend the cap on health care premiums, while the family glitch fix would make coverage more affordable.
According to the report, Georgia families with employer coverage with a median income of $76,620 will see average annual savings of $1,410 from 2023 to 2025, while families with exchange-based coverage will see average annual savings of $2,110. Individual Georgians with exchange-based coverage will save $1,500 on average.
“This report highlights how the Inflation Reduction Act – opposed by every single Senate Republican – will put money back in Georgians’ pockets while also tackling inflation, strengthening our energy security, and creating jobs. As the House prepares to send this crucial legislation to the president’s desk tomorrow, will Georgia’s GOP representatives stand with Democrats and vote to lower health care costs, or put their loyalty to their extreme MAGA agenda ahead of Georgia families?” said Democratic Party of Georgia spokesperson Ryan Radulovacki.
The Inflation Reduction Act includes several key health care wins for Georgians, including:
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