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WASHINGTON, DC (WDBJ) – Sen. Tim Kaine says Virginians will feel the effects of the Inflation Reduction Act in lower health insurance premiums and prescription drug prices.
Kaine spoke with reporters during a teleconference from Washington Wednesday afternoon.
He said the Inflation Reduction Act recently signed by President Biden will continue subsidies for people who purchase health insurance on the Affordable Care Act exchanges.
“You can’t wave a magic wand and make all inflation go away,” Kaine said, “but if you can make it more affordable for people to afford health insurance, that’s one of the big ticket items that really affects people’s pocketbook.”
Kaine also said the legislation brings changes to Medicare that will help lower prices, and cap out-of-pocket expenses for prescription drugs.
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