Today, Rep. Jim Cooper (TN-05) announced how 5th Congressional District of Tennessee families will see more affordable prescription drugs for Medicare recipients and lower health insurance premiums made possible by the Inflation Reduction Act.
Inflation Reduction Act savings for Middle Tennessee residents include:
35,000 Middle Tennesseans will save an average of $900 in health premiums by extending ACA tax credits used to help families purchase insurance;
Insulin will be capped at $35 per month for Medicare beneficiaries. Had the Inflation Reduction Act been in place since 2020, the average Medicare beneficiary needing insulin could have saved more than $1,600 per year; and
Medicare Part D costs will be capped at $2,000 per year. Had this been in effect since 2020, the average Medicare beneficiary would have saved $250 in out-of-pocket costs annually;
"After far too long, relief is finally here to help Tennesseans who have been paying way too much for healthcare, prescription drugs, and energy prices," Rep. Jim Cooper said. "Democrats promised to help Middle Tennessee families and we've been delivering on that promise for many months."