Women with Medicare Reap the Benefits of Inflation Reduction Act: Cost Savings and Improved Accessibility

In a recent announcement, the U.S. Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE) revealed research demonstrating how the Inflation Reduction Act (IRA) provisions will lead to cost savings for women with Medicare. According to ASPE data, 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, in 2021, around two million women with Medicare received recommended vaccines that are now covered with zero cost sharing. 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, 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.

As over half of all Medicare enrollment consists of women, it is critical to ensure their access to affordable healthcare services. Organizations like Medicare Rights continue to advocate for improved care and coverage for older adults, individuals with disabilities