CAHC released a report tracking how the Inflation Reduction Act’s (IRA) redesign of Medicare Part D is increasing premiums, reducing competition and choice, and raising out-of-pocket costs.
Seniors are facing the highest premiums in Part D’s history with the fewest number of available plans. The IRA was praised for its six percent cap on premiums, but it only applies to the “base premium,” not the actual premiums paid by most beneficiaries.
This year, Part D premiums increased an average of 21 percent. In October, when seniors choose their 2025 coverage, they are likely to see premium increases from 50 up to 100 percent or more. However, with those increases come fewer plan choices, higher out-of-pocket costs, more utilization review, and reduced Medicare Advantage benefits.
CAHC’s report examines the damaging impact of the Inflation Reduction Act on Medicare Part D plans.
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