Poll Indicates Increased Voter Awareness of Drug Pricing in Inflation Reduction Act

By Better Today On May 15, 2024

TL/DR –

President Biden’s messaging regarding the Inflation Reduction Act (IRA) and lowering the cost of prescription drugs is resonating with more voters, especially those above 65, according to a poll by health policy research group KFF. 52% of older voters are aware of the IRA’s $35 cap on insulin for people with Medicare, up from 44% in November. However, overall, awareness of the IRA’s other Medicare drug pricing provisions has not changed significantly, and voters largely remain pessimistic about what either candidate could achieve in the drug pricing area.

President Biden’s Push for Lower Prescription Drug Costs Gains Traction

President Biden’s campaign to lower the cost of prescription drugs through the Inflation Reduction Act is gaining more support, but most voters are still unaware of its key provisions, a new KFF poll reveals.

Biden’s effort to decrease health costs, highlighted by the passage of the IRA, has become a major reelection point. Consciousness about the law is highest among voters aged 65 and above who primarily vote more than younger adults.

The poll showed that 52% of older voters are aware of the IRA’s $35 cap on insulin for Medicare users, up from 44 percent in November. However, among all voters, only 35 percent were aware of the cap, a slight increase from 28 percent in November.

Approximately 48 percent of older voters were aware of the law requiring the federal government to negotiate prescription drug prices for Medicare enrollees, compared to about a third of all voters.

The awareness of the IRA’s Medicare drug pricing provisions hasn’t changed significantly among all voters since November. However, there’s been an increase in awareness among Democratic voters and older voters. This raises hopes that IRA’s success messages are reaching some groups, despite the overall low awareness still posing challenges.

Large bipartisan voter groups support Biden’s proposals to extend some of the IRA’s drug provisions to all adults with private insurance, such as capping monthly insulin costs and limiting out-of-pocket prescription drug expenses. Nevertheless, most voters remain skeptical about any candidate’s potential achievements in drug pricing.

The poll slightly favored Biden among independent voters, with about half believing his administration’s policies could lower prescription drug costs. About 4 in 10 thought the same about former President Trump, the prospective GOP nominee. However, neither candidate held a clear lead on tackling high healthcare costs.

The survey conducted from April 23-May 1 includes a nationally representative sample of 1,479 U.S. adults. The margin of sampling error is plus or minus 3 percentage points for the full sample, and plus or minus 4 percentage points for registered voters.