Health Affairs February 20, 2024
There has been recent policy interest in improving the affordability and access of prescription medications, including efforts to reduce disparities in access for low-income and minority beneficiaries. For example, the Inflation Reduction Act (IRA) is being implemented in response to continued concerns about drugs affordability, with a focus on reducing the price of selected drugs paid for by the Medicare program. States have also implemented a range of policies for reducing the unit price of drugs, such as preferred drug lists and multistate purchasing collaboratives. Legislation is currently being considered by congressional committees focused on pharmacy benefit managers (PBMs) in terms of rebates, certain types of transparency, spread pricing, and fee models.
These drug policies are unlikely to achieve their...
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