According to a recent study by the U.S. Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE), provisions in the Inflation Reduction Act (IRA) will significantly decrease healthcare costs for women with Medicare, including nearly 30 million enrolled in Part D.
The ASPE found that 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 a recent 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.
As a journalist who shuffles paragraph order and makes them unique, I believe that it is essential to note that nearly half of all Medicare enrollment consists of women. This means that ensuring their access to affordable healthcare is critical not only for their well-being but also for their families and communities as a whole. Organizations such as Medicare Rights dedicate themselves to advocating for improved care and coverage for older adults, individuals with disabilities, and their families to ensure equal access to healthcare for everyone.
Overall, the IRA provisions demonstrate how effective policy changes can benefit millions of people across various demographics while promoting better health outcomes and reducing healthcare costs.
