Dear Neighbor,When Democrats in Congress were working with President Biden to pass the American Rescue Plan (ARP) and the Inflation Reduction Act (IRA), we knew we had historic opportunities to reduce health care costs for the American people. And we delivered in two big ways – enhancing Affordable Care Act subsidies and capping the cost of insulin at $35 a month. The ARP and IRA created and extended enhanced financial assistance to purchase health insurance coverage on the marketplace. With the assistance provided by the ARP and the IRA, nearly 6 million new people enrolled in marketplace coverage during 2021 and 2022, and 80% of federal marketplace enrollees had access to a plan for $120 or less per year. Nationally, the number of uninsured Americans reached an all-time low of 8% in 2022, and the total number receiving health insurance through an ACA marketplace reached a record high of 16.4 million in 2023.The enhanced subsidies are providing significant benefits right here in VA-11. In 2023, an estimated 41,000 people in the district enrolled in ACA marketplace health insurance coverage. As a result of the IRA, the average enrollee will save $800 in premiums this year. Individuals with ACA marketplace health insurance coverage in the district will pay an average of $1,620 in premiums this year. Without the enhanced subsidies provided through the IRA, the average premium would have increased 49% to $2,420.The savings for families in the district purchasing a benchmark silver plan will be significantly larger in many instances. For example:A 60-year-old couple with a household income of $80,000 will save $12,389 in premiums this year, avoiding a 220% increase in premiums.A family with a 35-year-old single parent with one child, and a household income of $30,000 will save $1,272 in premiums this year, avoiding a 757% increase in premiums.A family with two 40-year-old adults, two children, and a household income of $75,000 will save $3,096 in premiums this year, avoiding an 86% increase in premiums.In addition to these important savings, the IRA capped Medicare beneficiaries’ out-of-pocket insulin costs at $35 a month and the ARP strengthened Medicaid’s ability to limit drug price increases starting in 2024. As a result of these laws, the three largest manufacturers of insulin, who supply nearly all the insulin in the United States, announced that they would slash the cost of their insulins by up to 75%.Of the Medicare beneficiaries in VA-11 who use insulin, 3,500 paid more than $35 per month for their insulin in 2020. Because of the IRA, they will now save on average $490 annually on their insulin.Now, I'm working to make sure we extend these savings to every American.Already, these savings aren’t just limited to Medicare beneficiaries. An estimated 24,000 residents in VA-11 who are diagnosed with diabetes are insured through their current or former employer, 7,400 of whom rely on insulin to manage their diabetes. Depending on the insulin these residents are using and the terms of their insurance coverage, they are likely seeing significant savings due to the manufacturer price reductions.House Democrats have been laser focused on lowering costs for American families. With inflation on its way down and new opportunities for Americans to grow their savings like the ones I outlined above, we are well on our way toward that goal.As always, my team and I are here to help. If we can be of assistance, please don't hesitate to call us at (703) 256-3071.