American Action Forum August 10, 2022
Jackson Hammond

Executive Summary

The Senate-passed Inflation Reduction Act (IRA) included several health care provisions that will:

  • Extend American Rescue Plan Act subsidies for the Affordable Care Act exchanges for another three years.
  • Fundamentally shift how Medicare pays for drugs with price setting for Parts B and D, inflation penalties for Parts B and D, and out-of-pocket cost caps on insulin.
  • Alter Medicare Part D’s structure to cap out-of-pocket costs for beneficiaries and expand eligibility for Low-Income Subsidies in Medicare Part D.
  • Repeal the Trump Administration’s 2019 Prescription Drug Rebate Rule.

Introduction

On Saturday, the Senate passed the Inflation Reduction Act (IRA), the latest take on Democrats’ previous spending package known as Build Back Better, via reconciliation by a vote...

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