Washington DC — Today, Protect Our Care is kicking off week three of the Inflation Reduction Act theme weeks, which focuses on how the bill reduces health care premiums for 13 million families purchasing coverage on the Affordable Care Act (ACA) marketplaces. On average, families will save thousands of dollars a year on health care, giving them much-needed breathing room to pay for other essentials like rent, groceries, and gas. These savings will help Americans from all walks of life: middle class families, older adults, rural Americans, people of color, and more.
“The Inflation Reduction Act is a game changer for folks purchasing coverage on the ACA marketplaces,” said Protect Our Care Executive Director Brad Woodhouse. “It’s not surprising that as costs have come down, ACA enrollment has reached an all-time high. This is only possible because of the leadership of President Biden and Democrats in Congress — and their decade-long effort to protect and enhance the ACA. Despite the millions of people who rely on the ACA for affordable coverage, Republicans have unanimously opposed every measure to enhance the health care law, and they have vowed to repeal The Inflation Reduction Act if they take control of Congress. This would only harm millions of Americans and burden them with higher costs, and it would force some to lose their coverage altogether. Fortunately, the American people who overwhelmingly support these provisions and our health care champions on both ends of Pennsylvania Aveneue won’t allow that to happen. ”
Throughout the week, Protect Our Care will continue to release fact sheets and host nationwide events with elected officials, storytellers, and health care advocates to highlight the Inflation Reduction Act’s critical measures to drive down health care and prescription drug costs.
Inflation Reduction Act Themed Weeks:
- Week 1: GOP Accountability. Week one focuses on how every Republican lawmaker in Congress stood by Big Pharma and other special interests and voted against lower health care costs for the American people.
- Week 2: Seniors. Week two is bringing attention to the Inflation Reduction Act’s provisions to lower prescription drug costs for millions of seniors.
- Week 3: Lower Health Care Premiums. Week three focuses on how millions of Americans will save on their health care premiums thanks to the Inflation Reduction Act.
- Week 4: Cancer. The final week highlights how patients fighting serious diseases like cancer stand to save thousands of dollars a year on their health care costs.
FACT SHEET: The Inflation Reduction Act Drastically Lowers Premium Costs For Millions Of Americans
President Biden and Congressional Democrats fought tirelessly to pass the Inflation Reduction Act and reduce the cost of health insurance for millions of Americans and expand coverage. As a result, about 13 million Americans who buy insurance on their own will see savings, with an average family of four saving $2,400 a year. Three million of Americans will not lose their existing coverage because they could no longer pay their premiums. The Inflation Reduction Act will reduce racial inequities in health care, strengthen families, and save lives. It is particularly important as Americans manage their family budgets through inflation. It’s no surprise that these provisions are incredibly popular with the American people, no matter where they live or their political party.
Help Is On The Way In 2023:
- 13 million Americans will save on their health insurance premiums.
- $2,400 in average annual savings per family on health insurance premiums.
Read the full fact sheet here.