Congress passed the Inflation Reduction Act of 2022 (IRA), advancing major healthcare policy changes, including updates to Medicare’s drug benefit, caps on insulin out of pocket for Medicare beneficiaries, authorizing Medicare to negotiate drug prices, and extending of American Rescue Plan Affordable Care Act subsidies. While the IRA provides the framework, critical details and policy decisions will be left to the Centers for Medicare and Medicaid Services (CMS) to develop and finalize in the coming months and years as the implementation dates for these policy changes are staggered over the next several years. Read more here
