Retirees' Big Savings From Inflation Reduction Act

Millions of retirees should reap significant savings on prescription drugs under the landmark Inflation Reduction Act that President Joe Biden is expected to sign into law today. "The legislation will help revolutionize the prescription drug market and finally hold drug companies accountable for their prices. Some policies will take effect almost immediately this year while others will be phased in," AARP's chief advocacy and engagement officer, Nancy LeaMond, noted recently on the organization's website. The Kaiser Family Foundation outlined the key Medicare prescription drug changes by year, which are shown in the gallery above. (Image: Adobe Stock)