Enacted in 2022, the Inflation Reduction Act (IRA) introduced significant reforms aimed at reducing the financial burden of prescription drug costs for Medicare Part D beneficiaries.

A new report from MAPRx, however, shows that as a larger share of liability has shifted from the federal government to plans and pharmaceutical manufacturers, plan behavior is seen changing in ways that can undermine the promise of patient affordability by limiting access to prescription drugs. These
impacts are showing up in higher premiums, fewer plan choices, narrower formularies, more coinsurance, and more utilization management, including for drugs subject to Medicare negotiation. Read the Executive Summary here.