This month, we celebrate the second anniversary of the Inflation Reduction Act — a game-changer for New Yorkers. Through the IRA, House Democrats and the Biden-Harris administration have lowered health care costs for tens of millions of people. However, MAGA Republicans continue to wage war on health care, vowing to strip away coverage, dismantle protections for pre-existing conditions, and throw our health care system into chaos.
Thanks to this historic legislation, more than 110,000 eligible New Yorkers are saving an average of $361 on monthly health insurance premiums. It has also lowered drug prices by capping monthly insulin costs for people on Medicare at $35. Starting next year, seniors’ drug costs are capped at $2,000 annually, while there was previously no limit on what they had to pay.
Importantly, the IRA also allows Medicare to negotiate lower prices for the most expensive drugs, including medications that treat conditions like diabetes, heart failure, blood clots and autoimmune disorders. Just two weeks ago, the White House announced the results of the first Medicare drug price negotiations, unveiling that American taxpayers are expected to save $6 billion on prescription drug costs, and people enrolled in Medicare are expected to save $1.5 billion in out-of-pocket costs in 2026 alone.
Every New Yorker deserves access to quality, affordable health insurance and to never worry about facing a choice between buying life-saving medications or putting food on the table. This is particularly crucial when 653,000 New Yorkers are currently taking one or more of the 10 drugs currently up for Medicare price negotiation — and women make up nearly half of this number. Thanks to the IRA, New Yorkers on Medicare are protected from Big Pharma’s arbitrary price hikes that raise drug prices faster than inflation. The IRA also lowered premium costs for people who buy coverage on their own through the Affordable Care Act.
We have to defend affordable health care from Donald Trump
Meanwhile, Trump has a track record of vowing to strip away access to affordable health care. Not only did Republicans unanimously vote against the IRA, but now Project 2025, a dangerous policy roadmap for another Trump presidency developed by the Heritage Foundation, seeks to undo all of the monumental progress that House Democrats and the Biden-Harris administration have made to lower costs.
This IRA anniversary is a powerful reminder of the strides we’ve made to build a strong foundation for the future of our health care system. The Biden administration fought tirelessly to pass the historic health care investments included in the IRA. These provisions are intended to strengthen health care coverage in America, working toward a vision for affordable, high-quality health care available for all.
New Yorkers must stand up against any efforts that would set us back decades by giving more tax breaks to drug and insurance companies, leaving hardworking families to foot the bill. If Trump and his allies get their way, 45 million Americans could lose coverage, millions would be subject to pay higher premiums, and seniors on Medicare would pay more for their prescription drugs. Let’s not forget that Trump has already tried and failed to repeal the ACA — and he is promising to do it again.
To my constituents, I vow to do everything I can to build upon the IRA and the ACA so everyone, no matter who they are or where they live, can get the care they need. This transformative legislation has been a crucial step forward in our ongoing fight to ensure that health care is accessible and affordable for all Americans.
Rep. Pat Ryan, a Democrat, represents New York’s 18th Congressional District.
This article originally appeared on NorthJersey.com: New York affordable health care
