SCHUMER REVEALS: THANKS TO THE INFLATION REDUCTION ACT, NEW YORK SENIORS NOW, FOR FIRST TIME EVER, HAVE A CAP ON THEIR MEDICARE PRESCRIPTION DRUG SPENDING HELPING LOWER COSTS FOR 3+ MILLION NY-ERS ON MEDICARE AND SAVING SENIORS THOUSANDS OF DOLLARS ON HEALTHCARE

Press Release

"A major shot in the arm to lower sky-high drug costs for New York's seniors has just arrived thanks to the Inflation Reduction Act. Now New York seniors will not have to pay more than $3,300 a year for prescription drugs, and will help end the decision making like choosing between buying life-saving medications and keeping food on the table. It means more money in the pockets of New York seniors and less in the pockets of Big Pharma, a win-win and just what the doctor ordered.

This cap is not just about saving money for those who routinely face the highest costs. It's a peace of mind for seniors in every corner of the Empire State.

Every single year, people with a previously clean bill of health are told they have something like cancer or cystic fibrosis or they need an organ transplant. It's not something you can plan for or expect. It comes out of the blue and upends your entire world. And with that diagnosis, they're told the drug they need to save their life could be more than $10,000. Never again. Now, seniors can rest assured that if God forbid they do receive a hard diagnosis, the drugs they need will be affordable."

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