Savings Explorer

President Biden and Vice President Harris are fighting to lower costs for families across the country. Check out the Biden-Harris Administration’s Savings Explorer to see how some of the President’s policies may be helping you save money in your daily life – on utility bills, junk fees, health care costs, and more.

Disclaimer: Estimated savings represent potential savings based on self-certification of eligibility and typical savings—or anticipated savings, in the case of programs not yet in effect—for beneficiaries of named programs. They do not represent a guarantee or commitment on the part of the federal government.

Americans are saving an average of

$800

on health insurance premiums annually because of the Biden-Harris Administration

Americans are saving an average of

$500

per year on utility bills because of the Biden-Harris Administration

Americans are saving an average of

$1,000

per year on student loans because of the Biden-Harris Administration

Americans are saving an average of

$900

per year in mortgage insurance premiums because of the Biden-Harris Administration

Americans are saving an average of

$150

per year on tax filing fees because of the Biden-Harris Administration

Health

President Biden and Vice President Harris are fighting for families who are struggling with health care costs and pharmaceutical prices that are two to three times higher than in other countries. They are taking historic action to lower costs—taking on Big Pharma to allow Medicare to negotiate lower prescription drug prices, capping the cost of insulin and prescription drugs for seniors, and building on the Affordable Care Act to lower health insurance premiums by about $800 per year for millions of Americans. These actions are saving seniors and families hundreds of dollars per year on their health care bills.

Calculate your estimated savings

Please select all that apply:

I want to lower my healthcare premiums

The Biden Premium Tax Credit expansions are saving millions of families enrolled in plans purchased through the Affordable Care Act Health Insurance Marketplace an average of about $800 per person per year.

I am a Medicare enrollee and I am on insulin

Save an average of $500 per year because of President Biden’s Inflation Reduction Act.

I am a Medicare enrollee taking recommended vaccines

Save an average of $70 each year because of President Biden’s Inflation Reduction Act.

I am a Medicare enrollee paying over $2,000/year for prescription drugs

Save an average of $400 each year starting in 2025 because of President Biden’s Inflation Reduction Act.

I use an inhaler

Save an average of $1,200 per year on inhaler costs.

I have hearing aids

Save as much as $3,000 per pair because the Biden-Harris Administration made hearing aids available over the counter.

Show your support

President Biden’s Inflation Reduction Act capped the cost of insulin at $35 for seniors and people with disabilities on Medicare. President Biden wants to finish the job and cap insulin at $35 for all Americans.

Do you agree?

Did you Know?

President Biden’s Inflation Reduction Act for the first time in history allows Medicare to negotiate lower prescription drug prices. Those negotiations are ongoing, but could save 9 million seniors and other Medicare beneficiaries money on medications that treat blood clots, diabetes, arthritis, heart disease, and more.

Calculate your estimated savings

Please select all that apply:

I want to purchase an electric-vehicle (EV)

Save up to $7,500 per qualified vehicle because of President Biden’s Inflation Reduction Act.

I want to install an EV charger

Get a 30% tax credit on each charger, up to $1,000, because of President Biden’s Inflation Reduction Act.

I want to install a heat pump

Get a tax credit of up to $2,000 per pump because of President Biden’s Inflation Reduction Act. Americans also save an average of $500 or more per year in home energy costs, depending on existing home conditions.

I want to install solar panels in my home

Get a tax credit of up to 30% on a rooftop solar system - an average of $7,500 - because of President Biden’s Inflation Reduction Act. Americans also save an average of $400 per year on their electricity bills with solar.

I want to make my home more energy efficient by making improvements to doors, windows, and more

Get a tax credit of up to $1,200 off the initial cost of energy efficiency improvements to doors, windows and more through President Biden’s Inflation Reduction Act.

I want to weatherproof my home and lower energy costs while bolstering health and safety

Save an average of $372 by increasing your home's energy efficiency through the Weatherization Assistance Program in President Biden’s Bipartisan Infrastructure Law.

Show your support

President Biden's Inflation Reduction Act takes the most significant action to tackle climate change in American history—but extreme Republicans in Congress want to repeal this progress.

Do you support the President's efforts to fight climate change while furthering our energy independence?

Student Loans

President Bident believes higher education should be a ticket to the middle class – not a barrier to opportunity. The Biden-Harris Administration has taken significant steps to fix the broken student loan system, and launched the most affordable student loan repayment plan ever – the SAVE plan. So far, the Administration has approved student debt cancellation for 4.75 million Americans, Americans, and the President announced new plans that, when combined with prior actions, could help a total of 30 million people get out from under the burden of student loan debt.

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My household makes less than $60,000 a year and I want to go to college

Save an additional $900 in costs for college because of increases to the maximum Pell Grant that President Biden secured.

I am a Direct Federal Loan borrower and am paying off my student loans

Enroll in the SAVE student loan repayment plan and, if your monthly payment isn't $0, save over $1,000 each year on student loans.

Show your support

President Biden announced new plans that would cancel debt for a total of 30 million Americans when combined with the Administration's previous actions. Republican elected officials have tried to block the President from delivering student debt relief.

Do you agree that borrowers should get more breathing room on their student debt?

Did you Know?

If you are a public service worker, you may qualify to get your student debt cancelled after 10 years of payments through Public Service Loan Forgiveness. The Biden Administration fixed PSLF to help nearly 900,000 public servants get their student debt cancelled.

Calculate your estimated savings

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I am tired of excessive credit card late fees

The Consumer Financial Protection Bureau has finalized a rule that, if implemented, slashes credit card late fees charged by big banks from as high as $41 to $8, saving Americans more than $10 billion a year in these fees. This represents an average savings of $220 per year for the more than 45 million people who are charged late fees.

About how many credit card late fees do you get per year?

$33/fee

✔

I am tired of overdraft and bounced check fees

In 2021, the Consumer Financial Protection Bureau ramped up supervisory pressure on banks to examine their excessive overdraft and bounced check fee policies. Now, consumers have pay $6.2 billion less per year in fees. In addition, the Consumer Financial Protection Bureau has proposed a rule to rein in overdraft fees to as low as $3. This rule could save Americans another $3.5 billion or more every year in these fees.

I am tired of paying surprise early termination fees on my cable or internet

The Federal Communication Commissions has proposed a rule to ban early termination fees for cable and satellite providers.

Show your support

Already, the Biden-Harris administration's efforts to rein in junk fees will save Americans more than $20 billion annually. Now, he is calling on Congress to pass the Shrinkflation Prevention Act, which would crack down on companies that deceptively shrink the size of their products while charging the same price.

Do you support these efforts?

Calculate your estimated savings

Please select all that apply:

I need help with my grocery bills

The Biden/Harris administration's Thrifty Food Plan update increased SNAP benefits by $40/month per person. And the new SUN Bucks program (also known as Summer EBT) makes sure that families with kids who receive free and reduced price school meals can afford groceries over the summer.

How many household members do you have?

✔

About how many eligible children live in your household?

$120/child/summer

✔

I’m a homeowner with a Federal Housing Administration mortgage

Thanks to President Biden and the Department of Housing and Urban Development nearly 700,000 homebuyers and homeowners with new Federal Housing Administration-insured mortgages are saving an average of $900/year on their mortgage because of a reduced mortgage insurance premium.

I'm a renter and want to prevent my rent from increasing

The Biden Administration established a ceiling for annual rent increases for the two million apartments that are financed by federal tax credits—reducing the maximum allowable annual rent increase for those renters by an average of nearly $500 this year.

I want to save money on my home heating and cooling bills

With the Biden-Harris Administration’s investments in the Low Income Home Energy Assistance Program (LIHEAP) program, approximately 5 million Americans are saving an average of over $500 per year on home energy bills.

I want to save money on child care costs

More than 100,000 lower-income families are saving an average of $2,400 per year on child care because the Biden-Harris Administration capped the cost of care at no more than 7% of income for qualifying families.

I want an easy, secure, and free way to file my taxes online

For the first time ever, the Biden-Harris Administration piloted an option for Americans to file their taxes directly online with the Internal Revenue Service for free thanks to the Inflation Reduction Act. On average, an individual taxpayer spends $150 preparing their taxes every year. Now, the IRS is making Direct File permanent and inviting all 50 states and DC to work with them to offer a free filing option to their residents and enable them to save millions on those tax preparation costs by filing for free, online, through Direct File.

Did you Know?

The typical worker now has $1,400 more to spend or save on additional items than before the pandemic, after accounting for inflation. These actions are part of the President’s broader efforts to grow the economy from the middle out and bottom up, not the top-down. In addition, the American Rescue Plan saves workers and retirees with multi-employer pensions against cuts of up to 60% on their hard-earned pensions and has helped reduce medical debt for roughly 3 million Americans.