IRA will reduce out-of-pocket spending among some Part D enrollees by $7.4B in 2025, HHS report says
The Inflation Reduction Act could lower out-of-pocket costs by around $7.4 billion in 2025 for more than a third of all Americans enrolled in Medicare Part D, according to a new report from the Department of Health and Human Services’ Office of Health Policy.
The 41-page research paper, released Thursday, modeled some of the IRA’s drug-related provisions for 2024 and 2025. The provisions, among others, include the $2,000 a year out-of-pocket spending limit for Part D per year (indexed to inflation), a $35 per-month limit on covered insulin products, eliminating cost sharing on ACIP-recommended adult vaccines and expansion of the low-income subsidy (LIS).
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