Potential Effects of the Inflation Reduction Act on US Healthcare

November 18, 2022

The recent passage of the Inflation Reduction Act in the US signals a change on the horizon in healthcare. Certain drugs will have their Medicare prices negotiated, while some older patients will have their out-of-pocket prescription drug spending capped. These changes are part of a long-fought battle between patient advocates and pharma.

According to Alexandra Sumner, JD, “Medicare, which provides drug coverage for many people, has been blocked from negotiating and/or adjusting its prescription drug prices for over 19 years. That may be due to strong pharmaceutical interests in Washington. In 2021, the pharmaceutical industry had over 1,600 special interest lobbyists. In 2022, the industry has spent more than $187 million in lobbying.”

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(Source: GoodRx Health, October 3, 2022)

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