Poll: Inflation Reduction Act raises voter awareness on drug pricing

TL/DR –

A new poll from health policy research group KFF found that while President Biden’s messaging for the Inflation Reduction Act is resonating with some voters, most people are still unaware of its key provisions. Awareness was highest among voters aged 65 and older, with 52% of this group aware of the IRA’s $35 cap on insulin for Medicare recipients, compared to 35% of all voters. Despite broad bipartisan support for Biden’s proposals to extend some of the IRA’s drug provisions to all adults with private insurance, most voters are pessimistic about what either candidate would accomplish in the drug pricing area if elected.

President Biden’s Push for Lower Cost of Prescription Drugs & its Perception among Voters

According to a new poll from health policy research group KFF, President Biden’s efforts towards lowering prescription drug costs through the Inflation Reduction Act (IRA) is becoming more known among voters. However, the poll reveals that many voters are still unaware of key provisions of the Act.

Voter Awareness of the Inflation Reduction Act

Older voters, comprising mainly of Medicare beneficiaries, show higher awareness of the two-year-old IRA. The poll indicates a rise in awareness, from 44 percent to 52 percent, among older voters about the $35 cap on insulin for Medicare beneficiaries. Among the general voter base, awareness about this cap has increased from 28 percent to 35 percent.

Mixed Awareness on Provisions

Approximately 48 percent of older voters are aware of the law’s requirement for the federal government to negotiate prescription drug prices for Medicare enrollees, compared to a third of the overall voter base. Awareness of the IRA’s other Medicare drug pricing provisions has not increased significantly among all voters, though Democratic voters and older voters have shown slight increases.

Voter Perception of Drug Pricing Policies

Majority of voters across party lines support Biden’s proposal to extend some of the IRA’s drug provisions to all adults with private insurance. However, there is a general pessimism about what either candidate can achieve in the domain of drug pricing. Among independent voters, Biden has a slight edge over former President Trump, with around 50 percent believing his policies might lower prescription drug costs.

Poll Data

The survey was conducted between April 23 and May 1, sampling a nationally representative group of 1,479 U.S. adults. The margin of sampling error for the full sample is plus or minus 3 percentage points, and is plus or minus 4 percentage points for registered voters.

—
Read More US Economic News