According to recent research by the U.S. Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE), the Inflation Reduction Act (IRA) provisions will lead to cost savings for women with Medicare, including nearly 30 million women enrolled in Part D. ASPE data shows that if the IRA’s $35 cap on cost sharing for Medicare-covered insulin had been in place in 2020, approximately 733,000 women would have saved money. Additionally, around two million women with Medicare received recommended vaccines that are now covered with zero cost sharing in 2021. It is also projected that about 857,000 women enrolled in Part D will save $1,000 or more by 2025 due to the IRA’s restructuring of the prescription drug program’s design.
In a statement regarding the findings, Centers for Medicare & Medicaid Services (CMS) Administrator Chiquita Brooks-LaSure emphasized that women in the U.S. are disproportionately impacted by high healthcare costs and that the IRA is playing a crucial role in reducing prescription drug expenses and improving healthcare accessibility for women and all Medicare beneficiaries. ASPE’s Principal Deputy Assistant Secretary Rebecca Haffajee pointed out that the majority of Medicare Part D enrollees are women, and certain health conditions that are commonly treated with prescription drugs are more prevalent in women, such as autoimmune disorders. Therefore, savings on drug costs are especially significant for this demographic.
Women constitute over half of all Medicare enrollment, making it crucial to ensure their access to affordable healthcare services. Organizations like Medicare Rights are continuously advocating for improved care and coverage for older adults, individuals with disabilities, and their families to enhance the well-being of all beneficiaries. The IRA’s provisions demonstrate a commitment to addressing healthcare disparities faced by women and other vulnerable populations within Medicare.
