The Inflation Reduction Act of 2022 was enacted in August 2022, and mandates major changes in healthcare over the next few years. Immediate impacts will be felt in 2023. While the bill is specifically focused on Medicare, there is potential for these changes to impact all types of healthcare coverage, including the commercial health insurance market. This paper primarily focuses on considerations for health plans and their Medicare-eligible population, while also highlighting the potential effects on the overall market. The paper is organized as follows:
- Expected Medicare changes from the act
- Additional considerations for health plans
- Commercial market spillover impacts
Inflation Reduction Act: What Health Plans and Part D Sponsors need to know to be prepared
The Inflation Reduction Act aims to lower prescription costs of some drugs, so Medicare Advantage and Part D stakeholders need to consider each provision.