Inflation Reduction Act 2024 Medicare Premiums. The inflation reduction act of 2022 includes several provisions to lower prescription drug costs for people with medicare and reduce drug spending by the federal government, including a. The inflation reduction act of 2022 (the act), signed into law by president biden in august 2022, includes several provisions to lower prescription drug costs for people with medicare and.

Ira provisions focused on reducing drug costs. 27 rose garden speech, in which biden touted provisions in the inflation reduction act that will lower prescription drug costs for some medicare beneficiaries (we’ve explained.