Part D Costs on the Rise Due to IRA’s Benefit Redesign

The Congressional Budget Office (CBO) has projected that Medicare Part D will cost $400 billion more than its immediate post-IRA (The Inflation Reduction Act) estimate and $150 billion more than before the IRA’s enactment. The higher-than-expected cost of the IRA’s Part D redesign is the main contributor to the cost increase, which has also been boosted by higher inflation, the introduction and expanded use of newer drugs like GLP-1s, and other factors. To read The Committee for a Responsible Federal Budget report, click here…

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