% >> HERE IT COMES.
% CHARLES FRANKLIN, THANK YOU VERY
% MUCH.
% >> THANK YOU.
% >> DEMOCRATS HAIL THE INFLATION
% REDUCTION ACT AS LIFE CHANGING
% LEGISLATION.
% CONGRESSIONAL REPUBLICANS ALL
% VOTED AGAINST IT, CALLING IT
% RECKLESS SPENDING.
% IT'S NOW LAW AND THE HEALTHCARE
% PRESCRIPTIONS WILL CAP
% PRESCRIPTION DRUG COSTS FOR
% NEARLY 900,000 PEOPLE ON
% MEDICARE IN WISCONSIN AS WELL AS
% EXTEND PANDEMIC ASSISTANCE
% SUBSIDIES FOR MORE THAN 200,000
% PEOPLE IN THE STATE ON
% MARKETPLACE HEALTH PLANS.
% BOBBY PETERSON IS EXECUTIVE
% DIRECTOR OF ABC FOR HEALTH, A
% NON-PROFIT PUBLIC INTEREST LAW
% FIRM THAT HELPS HEALTHCARE
% CONSUMERS NAVIGATE THE PROGRAMS.
% AND BOBBY, THANKS VERY MUCH FOR
% BEING HERE.
% >> GLAD TO BE HERE, FRED.
% >> SO, SPECIFIC TO PEOPLE ON
% MEDICARE, THE LAW CAPS
% PRESCRIPTION DRUG COSTS AT
% $2,000 A YEAR, ALSO CAPS INSULIN
% AT $35 A MONTH FOR NEARLY 60,000
% ON MEDICARE IN WISCONSIN WHO USE
% THAT DRUG.
% HOW BIG OF A CHANGE IS THIS?
% >> IT'S A BIG CHANGE.
% I THINK IT HELPS TO REDUCE SOME
% OF THE COSTS PEOPLE ARE FACING.
% I THINK IT'S IMPORTANT TO
% REMEMBER, THOUGH, THAT NOTHING
% IN HEALTHCARE IS SIMPLE, AND
% NOTHING IN THE INFLATION
% REDUCTION ACT IN HEALTHCARE IS
% SIMPLE EITHER, SO IT'S IMPORTANT
% THAT WE DISTINGUISH THAT THIS IS
% PRIMARILY GOING TO BE HELPING
% PEOPLE THAT HAVE MEDICARE PART D
% COVERAGE.%SO THAT'S A SUBSET
OF MEDICARE
% FOLKS, IT'S GOING TO BE FOLKS
% GETTING MEDICARE PART D, AND A
% LOT OF THESE CHANGES DON'T
% UNFOLD FOR A COUPLE OF YEARS OR
% SO.
% THE $2,000 CAP DOES NOT START
% UNTIL 2025.
% >> DON'T EXPECT THAT KIND OF
% RELIEF ANY TIME SOON.
% HOW ARE OLDER PEOPLE ON A FIXED
% INCOME EVEN ABLE TO AFFORD THE
% OUT OF POCKET COSTS OF
% PRESCRIPTIONS?
% >> WELL, IT'S ALWAYS A STRUGGLE
% AND IT'S ALWAYS, YOU KNOW,
% FAMILY MEETINGS WITH, YOU KNOW,
% KIDS, PARENTS, GRANDPARENTS,
% TRYING TO FIGURE OUT HOW CAN WE
% MAKE THIS WORK.
% THIS IS GOING TO MAKE THE
% PROCESS A LITTLE BIT EASIER, BUT
% IT'S STILL COMPLEX.
% STILL THE FAMILY MEETINGS TRYING
% TO UNDERSTAND THE CHANGES THAT
% ARE COMING, THE OPPORTUNITIES TO
% GET SOME ADDITIONAL ASSISTANCE I
% THINK IS REALLY IMPORTANT.
% I WOULD ENCOURAGE FAMILIES, YOU
% KNOW, WORKING TOGETHER TO WORK
% WITH YOUR LOCAL AGING AND
% DISABILITY RESOURCE CENTER
% BECAUSE THEY CAN, YOU KNOW, IT'S
% DIFFERENT -- THERE ARE SO MANY
% NUANCES, IT'S GOOD TO HAVE THE
% LOCAL LEVEL OF ASSISTANCE AND
% THE AGING AND DISABILITY
% RESOURCE CENTERS IN THE COUNTY
% CAN HELP YOU.
% YOU ALSO MIGHT WANT TO GET SOME
% HELP FROM THE PART D HELP LINE,
% WHICH IS A STATEWIDE 800 NUMBER
% RUN BY THE FOLKS OVER AT
% DISABILITY RIGHTS WISCONSIN.
% THAT NUMBER IS 800-926-4862.
% AND THEY ALSO CAN HELP YOU WITH
% SOME OF THE QUESTIONS THAT
% EMERGE, BECAUSE IT'S GOING TO BE
% A LITTLE BIT DIFFERENT FOR ALL
% THE FOLKS OUT THERE.
% WE DID NOT GET A CHANCE TO TALK
% ABOUT THE INSULIN, WHICH IS A
% BIG DEAL, BECAUSE THAT WAS A
% HUGE PRICE GOUGING -- ANOTHER
% EXAMPLE OF FREE MARKET IN
% HEALTHCARE WHERE IT'S NOT FREE
% MARKET IF THERE ARE THREE PEOPLE
% CONTROLLING THE PROCESS AND
% RAISING PRICES BECAUSE PEOPLE
% NEED IT TO LIVE.
% SO, THAT'S A BIG DEAL FOR PEOPLE
% THAT ARE INSULIN-DEPENDENT ON
% MEDICARE PART D, THAT ONE STARTS
% RIGHT AWAY IN 2023, SO THAT'S
% IMPORTANT FOR PEOPLE THAT NEED
% INSULIN, IT WAS REALLY GETTING
% BAD.
% >> ANOTHER PRONG OF THE LAW
% WOULD ALLOW THE FEDS TO
% NEGOTIATE DRUG PRICES.
% IS THAT MEANINGFUL?
% >> ABSOLUTELY.
% I THINK WHEN YOU THINK ABOUT
% FOLKS THAT ADVOCATE FOR FREE
% MARKET HEALTHCARE, YOU KNOW,
% NEGOTIATION AND OPPORTUNITIES TO
% LEVERAGE PRICING IS ALWAYS A
% PART OF THAT, AND FOREVER THE
% FEDERAL GOVERNMENT HAS HAD THEIR
% HANDS TIED BEHIND THEIR BACK IN
% TERMS OF NEGOTIATING PRICES WITH
% THE PHARMACEUTICAL INDUSTRY.
% THIS LETS THE GOVERNMENT USE ITS
% SIZE TO AN ADVANTAGE TO SAY WE
% ARE GOING TO BE NEGOTIATING
% THESE PRICES AND TRYING TO GET
% THE BEST DEAL FOR OUR MEDICARE
% RECIPIENTS.%AFTER ALL, THESE
COSTS ARE
% SOMETIMES BORNE BY THE
% RECIPIENTS OR IT'S OUT OF THE
% TRUST FUND SO IT'S IMPORTANT TO
% MAKE SURE WE GET THE BEST DEAL
% AND ALONG WITH THE FEDERAL
% GOVERNMENT TO NEGOTIATE IS
% REALLY AN IMPORTANT FEATURE OF
% THE BILL.
% AGAIN, IT NOT GOING TO HAPPEN
% RIGHT AWAY.
% THIS IS A SLOW UNWINDING OF THE
% PROCESS, NOTHING IS GOING TO
% HAPPEN FOR SEVERAL YEARS BEFORE
% THE FEDERAL GOVERNMENT STARTS A
% SLOW PROCESS OF NEGOTIATING WITH
% TEN DRUGS AND RAMPS UP THROUGH
% 2030.
% >> SO ASIDE FROM FOLKS ON
% MEDICARE, THE LAW EXTENDS
% EXPANDED PREMIUM TAX CREDITS FOR
% PEOPLE ON AFFORDABLE CARE ACT
% MARKETPLACE PLANS, EXTRA
% SUBSIDIES THAT WERE SUPPOSED TO
% GO AWAY AFTER 2022.
% BREAK THAT DOWN FOR US.
% WHAT WILL THAT EXTENSION MEAN?
% >> YEAH, THAT'S GOING TO BE A
% REALLY BIG DEAL FOR MIDDLE
% INCOME FOLKS THAT WERE FACING A
% POTENTIAL BENEFITS CLIFF WHO
% WERE NOT GOING TO BE ELIGIBLE
% FOR ADVANCED PREMIUM TAX CREDITS
% ANYMORE AFTER THE OPEN
% ENROLLMENT AND NOW THAT'S
% EXTENDED.
% THAT'S REALLY GREAT NEWS.
% ONE OF THE REMARKABLE THINGS
% THAT'S HAPPENED IS WE HAVE
% LOWERED THE OVERALL RATE OF
% PEOPLE THAT LACK HEALTH
% INSURANCE IN THIS COUNTRY TO 8%.
% IT'S NEVER BEEN THAT LOW.
% SO THIS MODEL OF GETTING AS MANY
% PEOPLE COVERED AS POSSIBLE IS
% REALLY IMPORTANT BECAUSE THAT
% BENEFITS US ALL.
% THE TAX SUBSIDIES ARE GOING TO
% EXTEND COVERAGE TO MORE PEOPLE,
% MORE BENEFITS, AND IT WILL
% ENCOURAGE PEOPLE TO MAINTAIN
% THEIR HEALTH INSURANCE COVERAGE,
% WHICH IS REALLY A GOOD THING SO
% THAT WE ARE ALL COVERED AND WE
% ARE GETTING THE SERVICES WE NEED
% AND DESERVE.
% >> ALL RIGHT.
% BOBBY PETERSON, THANK YOU.