Today, Deputy Assistant to the President for the Cancer Moonshot Dr. Danielle Carnival issued the following statement on a new report from Patients for Affordable Drugs (P4AD), an independent national patient organization, that projects the Inflation Reduction Act will save Americans who get a brand name cancer drug through Medicare Part D an average of $7,590 per year:
“This new report underscores the importance of the President’s Investing in America agenda for seniors and people with disabilities across the nation. Cancer patients can face very high out-of-pocket costs for their prescription drugs, adding to the stress of their diagnosis, depletion of their life savings, or even causing them to skip life-saving treatments. Thanks to the Inflation Reduction Act, cancer patients with traditional Medicare coverage will spend less on the prescription drugs they need – a key goal of President Biden’s Cancer Moonshot.
The Inflation Reduction Act is already lowering health care costs and prescription drug costs for millions of Americans. This report makes clear that as additional provisions get implemented – including the cap on annual out-of-pocket costs for prescription drugs – the President’s Investing in America agenda will give Americans with cancer much needed breathing room and peace of mind.”