President Biden’s Inflation Reduction Act
A Boost for Affordability in Healthcare
In his initial days in office, President Biden addressed one of the most pressing concerns for Americans: rising inflation in healthcare. He signed the Inflation Reduction Act shortly after his inauguration, which relieved millions of Americans struggling to afford their medication, particularly insulin. Biden’s Inflation Reduction Act provided protection against the soaring costs of prescription drugs. It included a crucial provision that countered a 2003 Medicare Prescription Drug Act mandate, preventing consumers from facing excessive price hikes.