Inflation Reduction Act will be ‘life-changing’ for Black and Latino seniors

Millions of Americans could benefit from provisions in the bill that reduce prescription drug costs, experts say

Millions of older American could benefit from provisions in the new climate and healthcare spending package that lower prescription drug costs. For Black and Latino seniors, who disproportionately suffer from chronic diseases and struggle with high costs, the package, if passed and signed by Joe Biden, could be especially life-changing.

The Inflation Reduction Act, which the US House is expected to pass on Friday, would give Medicare the power to negotiate prices with pharmaceutical companies for up to 10 drugs starting in 2026. But other provisions could make the annual out-of-pocket costs for US seniors more affordable, which could disproportionately help low-income Americans and Black and Latino seniors on Medicare, who are up to twice as likely to struggle with paying for medication as white Americans.