Senate passes bill with ACA premium aid, Medicare drug cuts

The Senate on Aug. 7 passed a nearly $700 billion bill which extends Affordable Care Act premium subsidies and allows Medicare to negotiate some prescription drug pricing, according to Healthcare Dive. The Inflation Reduction Act has been sent to the House, which is expected to pass the measure and send it to President Biden for signing, according to the report. While the bill extended ACA subsidies and extended Medicare’s power, Senate Republicans blocked a measure in the bill to cap insulin at $35 per month for Americans with private medical insurance.