Many new laws went into effect on the first day of 2023, and more will go into effect throughout the year.
First, 27 states will see a minimum wage increase this year. Of those states, Washington has the highest minimum wage at $15.74 an hour. The state's minimum wage for 2022 was $14.49 per hour.
As part of the Inflation Reduction Act, the price of insulin for senior Medicare beneficiaries will be capped at $35 starting January 1. For anyone on state-regulated insurance plans in Maryland, the price of insulin will be capped as well.
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