I am excited to share that the passing of the Inflation Reduction Act brings relief to all older Americans by lowering prescription drug prices and limiting Medicare plan out-of-pocket costs.
On Aug. 16, AARP issued the following statement from Jo Ann Jenkins, AARP CEO, after President Joe Biden signed the Inflation Reduction Act of 2022: “AARP has fought hard to lower prescription drug prices for decades, and we thank President Biden for signing this historic legislation to provide relief to AARP’s members and all older Americans. This is one of the most important pocketbook issues for older Americans — across political aisles and across the country. We have made our voices loud and clear: Drug prices are out of control, and enough is enough.
“Going forward, Medicare is required to negotiate the prices of certain drugs, drug companies will be penalized if they raise prices faster than the rate of inflation and tens of millions in Medicare plans will soon have an annual cap on how much they pay out-of-pocket for their medications. Our fight isn’t over — AARP will keep working to make sure the law is implemented, and we’ll keep advocating for additional measures to bring down the price of prescription drugs.”
Some of these changes will go into effect later this year, while others are being phased in over the next four years.
To learn more about this historic win and what it means for you and your loved ones, visit tinyurl.com/5mzsxzxr.
I also wanted to remind everyone about AARP’s upcoming event “A Black and Asian Future, Tackling the Double Pandemic of Covid and Hate.” This event will take place on Sept. 21 at 3 p.m. ET.
AARP convenes our Asian American Pacific Islander Community and Black communities to address the double pandemic of Covid and systemic racism. In this FREE online event, we will explore our overlooked history of working together for positive change and open up the conversation on empathy, healing and our shared vision of tomorrow.
Where do we go from here, and how might we build bridges for multigenerational Asian and Black solidarity? By bringing our communities together, we can move toward our collective physical, mental and financial well-being.
This discussion, moderated by Richard Lui, MSNBC/NBC News anchor, author and filmmaker, will feature panelists Paula Madison, author and journalist; Jose Antonio Vargas, Pulitzer Prize-winning journalist; and Alex Reid, the first non-Asian Black K-Pop star.
Please join us and register at tinyurl.com/4wdukp6v.
For the latest news, updates and upcoming events as we celebrate all things AAPI, visit the AARP AAPI Community Page at aarp.org/aapi. You’ll also find an extensive library of free resources where you can learn more about financial security, health, wellness and caregiving.
Scott Tanaka is a member of the JACL Washington, D.C., chapter and is a policy, research and international affairs adviser at AARP.