A Happier New Year for IFPTE Retirees Thanks to the Labor Movement and Biden-Harris Administration

The Alliance for Retired Americans (ARA) applauds the new provisions of the Inflation Reduction Act. President Biden signed the act into law last August, which IFPTE strongly supported, and numerous provisions became effective this month.  

Among the provisions taking effect this month are capping insulin co-pays for Medicare beneficiaries at $35, providing free vaccines for adult Medicare beneficiaries, requiring companies that raise the price of prescriptions sold to Medicare faster than the rate of inflation to pay rebates, and other benefits.

“It took many years of activism to get here, but in two weeks drug prices will finally begin to come down,” said Alliance Executive Director Richard Fiesta. “Alliance members should be proud of the role they played in making this a reality.”

IFPTE International President Matt Biggs and Secretary-Treasurer Gay Henson thanked the ARA for their collaboration with IFPTE in getting those provisions included in the Inflation Reduction Act, saying, "There is dignity in all work, and we will continue our fight for dignity in retirement, as well."