LANSING, MI – Thursday, healthcare leaders joined Protect Our Care Michigan to celebrate a record enrollment of 322,273 Michiganders into the ACA marketplace for 2023. This year, seniors in the state and across the country are saving on insulin costs and life-saving vaccines thanks to the Inflation Reduction Act.
The Inflation Reduction Act will lower costs and improve health care for millions of Americans, with many critical provisions taking effect this month. Effective Jan. 1, 2023, insulin copays are capped at $35 per month for more than three million diabetics covered by Medicare. The U.S. Department of Health and Human Services (HHS) issued a new report yesterday highlighting the major savings coming to Michiganders because of the insulin cap. The report finds that the insulin cap in the Inflation Reduction Act would have saved Michiganders enrolled in Medicare an average of $403 in annual out-of-pocket costs in 2020.
Additionally, all adults on Medicare Part D have access to covered vaccines, such as shingles and Tdap, at no cost. These policies alone will save seniors in Michigan and across the country hundreds of dollars on their healthcare costs, keep millions of people healthy, and prevent dangerous complications associated with diabetes, shingles, and other serious diseases.
Speakers discussed how these provisions are keeping costs low for Michiganders, how seniors in the state can access these benefits, and additional savings to come. The Inflation Reduction Act is also reducing health care premiums for 13 million families purchasing ACA marketplace coverage.
“Affordable, comprehensive health insurance has never been more important, and we are proud that a record number of Michiganders purchased a plan during the recent Marketplace open enrollment period,” said Anita Fox, director of the Michigan Department of Insurance and Financial Services (DIFS). “If you missed the deadline but still need insurance for 2023, you may qualify for a special enrollment period if you have experienced a qualifying life event. You can find more information by visiting Michigan.gov/HealthInsurance, or by calling DIFS at 877-999-6442, from Monday through Friday from 8 a.m. to 5 p.m."
HHS Regional Director Joseph Palm said record enrollment in Marketplace health coverage reflects the growing public awareness that health insurance is the lifeline that puts high-quality medical care within reach of middle-income families.
“The 16.3 million people nationally – including more than 322,000 Michiganders – who enrolled in Marketplace health plans now have a way to deal with an unexpected illness or injury,” Palm said. “And thanks to the Inflation Reduction Act that was passed last year, they can continue to buy that insurance at an affordable price.”
“The Inflation Reduction Act has been nothing short of a game changer in our community,” said Jim Ananich, President and CEO of the Greater Flint Health Coalition. “The monthly cap on insulin for Medicare recipients is a lifesaving benefit in communities of color like Flint disproportionately impacted by diabetes. Along with providing our seniors with shingles and other critical vaccinations at no cost, this landmark law is taking a major step toward reducing racial inequities in health care in our community and beyond.”
“On my 68th birthday, I woke up with shingles,” said Linda Hamacher, a senior living in Genesee County. “Once I was completely over shingles, I needed to get the shingles vaccine to avoid a return of the illness. The copay of $60 for each dose soon became difficult to afford. Thankfully, the Inflation Reduction Act now helps our seniors save hundreds of dollars and encourages them to get potentially lifesaving vaccines. Thanks to the Inflation Reduction Act, more seniors are getting the care they deserve when they need to, not just when they can afford to.”
