Biden signs drug pricing bill into law

President Joe Biden on Aug. 16 signed the Inflation Reduction Act into law. The $739 billion law contains significant health care provisions, including extending the premium subsidies in the Affordable Care Act marketplaces through 2025 and preventing millions of people from losing coverage and seeing their premiums increase. The 2021 American Rescue Plan Act first increased the subsidies, which were set to expire at the end of this year. The law will also permit Medicare to negotiate prices for some drugs. (Becker’s news article, 8/17/22)