The Inflation Reduction Act was recently signed into law. This new legislation outlines the most significant changes to Medicare in almost two decades.
The Inflation Reduction Act is in part intended to address the increasing costs of prescription drugs and revise the Medicare Act of 2003. Additionally, it will invest in domestic energy production and manufacturing with a goal of reducing carbon emissions by approximately 40% by 2030.
Below is a summary of the legislation’s most significant changes that relate to Medicare:
Several more important provisions of the Inflation Reduction Act will take effect in 2023:
Our team at Covenant Wealth Strategies will be incorporating these updates into our planning conversations to help educate and inform our clients about Medicare.
If you have specific questions or would like to discuss your own investment strategy or financial planning needs, we welcome you to call us at 302.234.5655 or email us at email@example.com to set up time to discuss further.