Prescription drugs make up a huge portion of annual Medicare spending and stress not only the federal government’s resources, but also patients and families with more limited means. To address this challenge, President Biden signed the Inflation Reduction Act (IRA) into law in 2022 which, in part, tackles drug costs. I wrote about its impact and the holes in the law recently for Health Affairs Forefront:
While the IRA is an important step forward in controlling prescription drug costs, it has some significant shortcomings. The failure to control initial launch prices for drugs and the omission of Part B drugs will continue to strain patients’ wallets, leaving them with the difficult decision of how to afford their health care.
Read the whole piece here.
Research for this article was supported by Arnold Ventures