Inflation Reduction Act Lowers Healthcare Costs for Women: Data
TL/DR –
The U.S. Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE) has released research suggesting the Inflation Reduction Act (IRA) provisions will reduce costs for women with Medicare. The data suggests that the IRA’s $35 cap on cost sharing for Medicare-covered insulin would have saved around 733,000 women with Medicare money in 2020 and in 2021, about two million women received recommended vaccines covered with zero cost sharing. It is projected that 857,000 women enrolled in Part D will save $1,000 or more in 2025 due to the prescription drug program’s redesign under the IRA.
US Health Department Research Indicates Lower Healthcare Costs for Women with Medicare
The U.S. Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE) recently conducted research uncovering how the Inflation Reduction Act (IRA) will decrease expenses for nearly 30 million women enrolled in Part D of Medicare.
ASPE’s data reveals that if the IRA’s $35 cost sharing cap for Medicare-covered insulin was available in 2020, around 733,000 women with Medicare could have experienced monetary savings. In 2021, approximately two million women with Medicare had recommended vaccines covered with zero cost sharing. Predictions show about 857,000 women enrolled in Part D could save $1,000 or more in 2025 due to the IRA’s prescription drug program changes.
CMS Administrator Chiquita Brooks-LaSure highlighted this research in a recent announcement, stating, “Women throughout the country are disproportionately affected by high healthcare costs. The IRA is bridging this gap by reducing prescription drug costs and making healthcare more accessible for women–and all people–covered by Medicare.” ASPE’s Rebecca Haffajee noted, “Most Medicare Part D enrollees are women, and some conditions treatable with prescription drugs, like autoimmune disorders, affect women more than men.” Therefore, these savings bear significant impact on this population.
With women representing over half of all Medicare enrollees, ensuring their access to inexpensive healthcare is essential. At Medicare Rights, the commitment to improve care and coverage for older adults, people with disabilities, and their families continues.
You can view the full ASPE report here.
—
Read More US Economic News