Medicare & Drug Pricing: Time to Think Differently

The Hill
The Hill
1,419
0
Published 2024-06-27
The landmark 2022 Inflation Reduction Act (IRA) has already helped people with Medicare save on health care costs for vaccines and insulin, but, as with anything in Washington, that’s not the full story.

Increases in utilization management tactics, a guiding framework of health insurers and hospital systems to mitigate costs, are emerging as an unintended consequence of the IRA. Other provisions are starting to shift research dollars away from some medicines and towards others. At the same time, the Centers for Medicare and Medicaid Services (CMS) is tasked with finding $98.5 billion in savings over the next decade from Medicare drug price negotiation alone, and to do so while prioritizing equitable patient care.

What are the lessons learned from the first round of Medicare direct negotiation, and how can CMS improve the program in year two? How should Washington address the unintended consequences of the IRA? What do beneficiaries need to know about their 2025 drug plans and Open Enrollment later this year? And how should all stakeholders begin to think differently when it comes to Medicare, drug pricing, and patients’ best interests?

Join The Hill for a deep dive into these questions and more with academic experts, lawmakers, and advocates.
All Comments (3)