LANSING (WWJ) – Gov. Gretchen Whitmer on Tuesday signed an executive directive aimed at lowering costs for Michigan families by making sure the state takes advantage of the newly signed Inflation Reduction Act.
The IRA, signed last month, is looking to combat historic inflation across the country by lowering the cost of prescription drugs, healthcare and energy, as well as offering a tax middle-class tax credit for families that buy electric vehicles.
Whitmer says her Lower Costs for Families Executive Directive will “ensure that families have the information and resources they need to fully harness (the IRA’s) benefits.”
The executive directive includes four provisions to make sure this happens:
• State departments and agencies will be required to develop consumer-facing material to ensure Michigan residents “are aware of all opportunities to lower costs on home improvements, energy upgrades, electric vehicles and transportation, and prescription drugs and other health care costs.”
• The Michigan Department of Health and Human Services (MDHHS) and the Department of Insurance and Financial Services “should ensure that the roughly 220,000+ eligible Michiganders have the information they need to apply for and receive tax credits available to offset the costs of health insurance purchased on the marketplace.”
• MDHHS should continue efforts to decrease the cost of prescription drugs for Michiganders on Medicaid, including through the negotiation of additional value-based purchasing agreements.
• The Department of Environment Great Lakes, and Energy (EGLE) should work with other state departments to build a plan to help Michiganders utilize federal rebate programs to make energy and home improvements and lower their energy costs.
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“Tough times don’t last, but tough people do, and it is time they got some relief. Let’s get it done,” Whitmer said in a press release.
Whitmer says Michigan seniors on Medicare will have their prescription costs capped at $2,000 a year and insulin at $35 a month. She also says the initiative will save more than 300,000 Michiganders about $800 a year on premiums.
The full executive directive can be found on the state’s website and more information on the IRA is available here.
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