Las Vegas grandmother saving money thanks to Biden-Harris’ drug price caps

Tens of thousands of Nevada seniors, including a Las Vegas grandmother, are seeing big savings in healthcare costs, thanks to the Biden-Harris administration. 

Donna West, a Las Vegas grandmother, had watched friends come down with shingles and knew how debilitating it could be. But when she went to the pharmacy to get vaccinated on her doctor’s recommendation, she was shocked to learn she’d have to pay $200 for the necessary two shots. 

She left without getting them.

“Two hundred dollars is how much I pay for groceries for a week,” said West, 67, who went on Medicare after retiring from the Department of Motor Vehicles. “I couldn’t believe that’s how much it cost.”

That was in 2022. 

One year later, Donna learned that the Biden-Harris’ administration’s Inflation Reduction Act was capping drug prices for Medicare recipients – and that the shingles vaccine was now free. She returned to the pharmacy immediately, becoming one of nearly 90,000 Medicare Part D enrollees in Nevada who received a recommended Part D covered vaccine without any cost to her.

The Biden-Harris administration lowers healthcare costs.

In Nevada, as is true throughout the United States, the soaring price of prescription drugs, including some vaccines, has forced elderly people to make painful choices. This is the result of a shameful systemic problem:  Americans pay 2.56 times more for prescription drugs than those in 32 other countries.

In 2023, the IRA began easing the pressure:

• Besides the free vaccines, Medicare Part D recipients now pay no more than $35 a month for insulin—down from a nationwide average of $54.  Some 22,000 Nevada Medicare beneficiaries used insulin in 2020.

• Beginning in 2025 and  for the first time, all 390,000 Nevadans with Medicare Part D will have the security of knowing their out-of-pocket medication costs are capped. No senior will pay more than $2,000 per year for these life-saving medications.

• By next year, an estimated 143,000 Nevadans will be saving an average of $434 per year on prescription drug costs because of the new policies, for a total of more than $62 million, according to the US Department of Health and Human 

“Something called the Inflation Reduction Act didn’t scream that it was going to help seniors,” said West. “But once I learned about it, I was really impressed. There are all sorts of other good things in there. Now I feel like the Biden-Harris administration has done more for seniors than has probably been done in decades.”

More cost-saving reforms are on the horizon:

• Beginning in 2026, the Biden-Harris Inflation Reduction Act will cap costs for 10 other medications for Medicare recipients. The 10 drugs, which treat illnesses including heart failure, blood clots, arthritis, and Crohn’s disease, represent the highest spending for drugs in Medicare Part D.

• Over the next four years, Medicare plans to tackle prices for up to 60 other drugs, with 20 more every year thereafter.

For now, the relief affects only older Americans. But Democrats want to extend it to all ages.

How the Price Caps Can Benefit You

If Medicare is paying for your insulin:

• Your bills should be lower.
• Check your monthly statements and call your doctor’s billing office if you have questions.

• If your doctor can’t help, contact Medicare at 1-800-633-4227 or 1-877-486-2048 (TTY), or the Seniors’ Health Insurance Information Program (SHIIP) at 1-855-408-1212 

And remember:

Nevada’s total uninsured rate has fallen by nearly 10% since the Democrats passed the Affordable Care Act. In 2023, the average monthly premium paid after subsidies was just $152.