PhRMA-Backed Report Finds IRA Will Lead To 12% Cost Increase For Part D Enrollees

By Gabrielle Wanneh / June 25, 2024 at 5:54 PM
A new analysis commissioned by the Pharmaceutical Research and Manufacturers of America (PhRMA) found the new Medicare Part D drug price negotiation program could raise out-of-pocket costs in 2026 for 3.5 million seniors because formulary placement will require they pay copays instead of coinsurance, meaning they won’t fully benefit from the new out-of-pocket limit in Part D. The report conducted by Milliman actuaries and released Tuesday (June 25) found setting maximum fair prices for selected drugs as a result of...


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