Saving Women with Medicare: The Inflation Reduction Act’s Significant Impacts

In a recent study, the US Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE) found that the Inflation Reduction Act (IRA) will save women with Medicare significant amounts of money on prescription drug costs. 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. In 2021, around two million women with Medicare received recommended vaccines that are now covered with zero cost sharing. Additionally, it is 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.

Women make up over half of all Medicare enrollment, making it crucial to ensure their access to affordable healthcare services. The IRA plays a vital role in reducing prescription drug expenses and improving healthcare accessibility for women and all Medicare beneficiaries. CMS Administrator Chiquita Brooks-LaSure emphasized this point in a statement regarding the findings: “Women in the U.S. are disproportionately impacted by high healthcare costs, and we are committed to ensuring that they have access to affordable healthcare services.”

ASPE’s Principal Deputy Assistant Secretary Rebecca Haffajee further highlighted that many 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.

Organizations like Medicare Rights continue to advocate for improved care and coverage for older adults, individuals with disabilities, and their families to enhance the well-being of all beneficiaries. They emphasize that it is vital to ensure that all Medicare beneficiaries have access to affordable healthcare services regardless of their gender or health status.