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Prescription Drugs

The Inflation Reduction Act (IRA) takes important steps to reduce drug prices and lower costs for people with Medicare and the program, such as capping beneficiary out-of-pocket spending; requiring Medicare to negotiate drug prices; and expanding eligibility for the full Part D low-income subsidy (LIS). We support an implementation process that centers the beneficiary experience and look forward to building upon these landmark policies.

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Medicare Reforms in the Inflation Reduction Act

July 1, 2024

The Inflation Reduction Act (IRA) of 2022 made key changes in Medicare law and coverage to improve prescription drug affordability for older adults and people with disabilities. Since its passage, some stakeholders and lawmakers have targeted IRA policies for revision or repeal, especially the law’s Medicare Drug Price Negotiation Program. Depending on the provisions targeted, this would increase beneficiary costs and increase Medicare spending.

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Medicare Reforms in the Inflation Reduction Act

July 1, 2024

The Inflation Reduction Act (IRA) of 2022 made key changes in Medicare law and coverage to improve prescription drug affordability for older adults and people with disabilities. Since its passage, some stakeholders and lawmakers have targeted IRA policies for revision or repeal, especially the law’s Medicare Drug Price Negotiation Program. Depending on the provisions targeted, this would increase beneficiary costs and increase Medicare spending.