3 Inflation Reduction Act Medicare changes taking effect in 2024

(By Rylee Wilson for Becker’s Hospital Review)

The federal government will cap drug copays and premiums for Medicare beneficiaries and expand eligibility for financial assistance for medications in 2024.

The new policies are part of the Inflation Reduction Act, passed in 2022, and being rolled out over several years. In 2023, the legislation led to caps on insulin prices for Medicare beneficiaries and financial penalties for drugmakers raising the cost of their medications higher than the rate of inflation. Continue reading here…

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