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Nevada seniors see impact of Inflation Reduction Act on prescription drug costs

Seniors in Nevada said they've seen a difference in their prescription drug costs.
Doolittle Senior Center
Posted at 7:44 PM, Mar 15, 2023
and last updated 2023-03-15 22:44:10-04

LAS VEGAS (KTNV) — Nevada seniors said they notice a big difference in the amount they pay for prescription drugs ever since the Inflation Reduction Act went into effect.

Martyn Lewis is a senior at Doolittle Senior Center. He currently takes six prescription drugs. He said last year, his copay for each medication was $25. This year, he said it went down to $5 per drug.

Lewis said because he's on a fixed income, having to pay as much as he did for his medication would be frustrating.

MORE: President Joe Biden talks lowering prescription drug prices during UNLV speech

"It's a little bit daunting to know a big part of my income is going for medications that I have to have," said Lewis.

Maceo Gilchrist also goes to Doolittle Senior Center. He currently takes two prescription drugs.

"They were as high as $21 for a one-month supply and now they're down to $7," said Gilchrist. "Every dollar that you can save when you're in a household on retirement counts."

Seniors like Gilchrist and Lewis hope the Biden administration continues to keep the senior population top of mind.

"I look forward to them pushing through more things in Congress in terms of additional stuff like an extra $200 for social security recipients," said Gilchrist.

President Joe Biden stopped by Las Vegas Wednesday to discuss plans to expand the Inflation Reduction Act. Biden said he wants to cap insulin at $35 a month not just for seniors but also families and also expand the number of drugs covered under Medicare.

The Department of Health and Human Services announced 27 Part B prescription drugs under Medicare will have lower copays beginning April 1.

Currently, it's estimated more than half a million Nevadans are enrolled in Medicare.