The U.S. Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE) recently published research demonstrating how Inflation Reduction Act (IRA) provisions will decrease costs for women with Medicare. This includes nearly 30 million women who are enrolled in Part D.
According to ASPE data, if the IRA’s $35 cap on cost sharing for Medicare-covered insulin had been in place in 2020, approximately 733,000 women with Medicare could have saved money. Additionally, in 2021, around two million women with Medicare received recommended vaccines that are now covered with zero cost sharing. It is projected that in 2025, about 857,000 women enrolled in Part D will save $1,000 or more due to the IRA’s restructuring of the prescription drug program’s system.
CMS Administrator Chiquita Brooks-LaSure emphasized in the administration’s announcement that women across the country are significantly impacted by high healthcare costs. The IRA aims to reduce prescription drug expenses and improve healthcare accessibility for women and all Medicare beneficiaries. ASPE’s Principal Deputy Assistant Secretary Rebecca Haffajee added that the majority of Medicare Part D enrollees are women, and some conditions that require prescription drugs are more common in women than men. Therefore, reducing drug costs has a significant impact on this demographic.
With women accounting for more than half of all Medicare enrollment, ensuring their access to affordable healthcare is crucial. Medicare Rights is dedicated to advocating for improved care and coverage for older adults, individuals with disabilities, and their families.