Inflation Reduction Act Research Series: Medicare Part D Enrollee Out-of-Pocket Spending: Recent Trends and Projected Impacts of the Inflation Reduction Act

n July 7, The U.S. Department of Health and Human Services (HHS) announced actions to protect consumers from junk health plans, surprise medical bills, and excess costs that lead to medical debt. HHS also released a new report projecting that nearly 19 million older adults and people with disabilities with Medicare will save on average $400 per year on prescription drug costs when the $2,000 out-of-pocket prescription drug spending cap from the Inflation Reduction Act (IRA) goes into effect in 2025...