Inflation Reduction Act Boosts Insulin Prescription Fills for Medicare Beneficiaries
A study conducted by the USC Schaeffer Center for Health Policy & Economics and the University of Wisconsin-Madison has found that the Inflation Reduction Act‘s policy capping out-of-pocket costs for insulin at $35 for a month’s supply has led to an increase in the total number of insulin fills for Medicare beneficiaries. The study, published in the Journal of the American Medical Association, analyzed data from IQVIA’s National Prescription Audit, which includes 92% of retail pharmacies and 70% of mail-order and long-term care facility pharmacies.
According to the study, following the cap’s enactment in January 2023, the number of insulin fills among Medicare Part D enrollees increased from 519,588 to 523,564 per month. In contrast, the number of insulin fills decreased among older adults without Medicare during the same period. The findings suggest that the cap is encouraging Medicare beneficiaries to fill their insulin prescriptions.
The cost of insulin has been a growing concern for Medicare enrollees, with out-of-pocket expenses increasing from $236 million in 2007 to over $1 billion in 2020. This has led many patients with diabetes to ration the life-saving drug, putting their health at risk. The Inflation Reduction Act‘s cap on out-of-pocket costs for insulin aims to alleviate this burden.
The study’s findings show that the average number of monthly fills with out-of-pocket expenses of $35 or less grew from 340,509 to 366,928 for Medicare enrollees. On the other hand, for those without Medicare, the number of less expensive fills fell from 242,733 to 220,867. After adjusting for differences in the study sample, the analysis suggests that Medicare beneficiaries filled about 50,000 more insulin prescriptions per month that were $35 or less, and approximately 20,000 of these fills would not have taken place without the policy.
Study co-author John A. Romley, associate professor at the USC Sol Price School of Public Policy and Alfred E. Mann School of Pharmacy and Pharmaceutical Sciences, emphasized the potential benefits of the policy, stating, “This new policy has the potential to do two things: save money for people who are taking insulin, and help people afford insulin to begin with.” He added that the policy has meaningfully reduced the number of Medicare beneficiaries who were unable to fill their insulin prescriptions due to cost, which could have put their health at risk.
The study also highlighted the importance of ensuring access to affordable insulin for promoting health equity. Co-author Dima Mazen Qato, associate professor in the Titus Family Department of Clinical Pharmacy at the USC Mann School, noted that Black and Latinx individuals, including among Medicare populations, are more likely to suffer from diabetes and face barriers in accessing diabetes medications, including insulin.
Overall, the study provides evidence that the Inflation Reduction Act‘s cap on out-of-pocket costs for insulin has had a positive impact on Medicare beneficiaries, increasing the number of insulin fills and potentially improving health outcomes for those with diabetes.
Original Story at www.news-medical.net – 2023-07-25 03:08:00
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