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Sewell highlighted how the Inflation Reduction Act is lowering prescription drug prices and capping insulin costs for Alabama seniors

Linden, AL — Today, U.S. Rep. Terri Sewell (AL-07) hosted a Seniors Resource Roundtable in Linden, Alabama. Representatives from AARP, the Social Security Administration, the Rural Health Medical Program, and the Alabama Tombigbee Regional Area on Aging were on hand to provide information and resources to seniors in Alabama’s 7th Congressional District. Rep. Sewell highlighted how the Inflation Reduction Act is lowering health care and prescription drug costs for hundreds of thousands of Alabama seniors. She reiterated her strong commitment to protecting and expanding Social Security and Medicare.

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“I convened this roundtable because I believe that every senior should be able to retire with dignity after a lifetime of work,” said Rep. Sewell. “Our seniors have spent their lives giving back to our communities, and we as Americans have a responsibility to ensure they receive the resources and care they need at a cost they can afford. I understand that. President Biden understands that. And it’s why we have made delivering for our seniors a top priority.”

With Rep. Sewell’s support, Congress passed and President Biden signed the Inflation Reduction Act (IRA) in 2022. Thanks to the IRA’s $35 per month insulin price cap, more than 29,000 Alabama seniors who rely on insulin—including 3,800 in Alabama’s 7th District—are saving an average of $400 annually compared to 2020. As a result of this law, the three largest manufacturers of insulin, who supply nearly all the insulin in the United States, announced that they would slash the cost of their insulins by up to 75%.

The IRA also caps out-of-pocket prescription drug costs for Medicare beneficiaries at $2,000 annually beginning in 2025 and empowers Medicare to negotiate lower prescription drug prices to get a better deal for seniors.

“The bottom line is this,” continued Sewell. “No senior should have to choose between putting food on the table or paying for life-saving medication. That’s why these savings matter. It’s why I will continue to protect programs like Social Security and Medicare which are a lifeline for our seniors.”  

More information on the cost-saving benefits of the Inflation Reduction Act for Alabama’s 7th Congressional District can be found here.