US Senate Majority Leader Chuck Schumer Speaks at D'Youville Vital Pharmacy

US Senate Majority Leader Chuck Schumer spoke at Vital Pharmacy today, 9/9/24, announcing the next phase of lowering drug costs for seniors as part of the Inflation Reduction Act. The Senator announced a $2,000 annual cap on prescription coverage for Medicare with ten drugs significantly lowered – and ten more each year; and seniors will have the ability to set up monthly payments at a maximum of $167 per month.

“Beginning this January, Western New York seniors on Medicare will not have to pay more than $2,000 for prescription drugs, and it will help end the decision making – such as choosing between life-saving medications and keeping food on the table. It means more money in the pockets of our seniors and less in the pockets of Big Pharma, a win-win and just what the doctor ordered,” said Senator Schumer. “Thanks to the Inflation Reduction Act, we’ve made record progress lowering prescription drug prices for older Americans on Medicare.”

On hand, President Lorrie Clemo, PhD and Dr. Mike MacEvoy, Chief Health Services Officer, supported Senator Schumer’s announcement and the impact it will make on the lives of Western New Yorkers.

AARP estimates that 261,000 New York seniors will benefit from the cap next year. By 2029, 1-in-10 seniors nationally are expected to see savings because of the cap.

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