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Inflation Reduction Act: Big Wins for the NMD Community
August 11, 2022 by Mark Fisher

From improving access to health insurance to making prescription drugs more affordable, we are celebrating a couple major victories in the recently passed Inflation Reduction Act (IRA). These new policies will go a long way in ensuring those in neuromuscular community can obtain and afford health care and vital medications.

Check out the highlights below to see how the IRA helps the NMD Community.

1. Improves Insurance Affordability – A couple of years ago, Congress increased tax subsidies to allow more people to afford private insurance via the Affordable Care Act Marketplaces. However, that important assistance was set to expire at the end of this year and would’ve resulted in many people losing coverage.

Thankfully, the IRA extends these vital enhanced subsidies for three more years and gives the neuromuscular community additional piece of mind knowing that they can continue to afford high-quality healthcare. MDA will continue to advocate to make these tax subsidies permanent.  

2. Makes Medicare Part D Prescription Drugs More Affordable - For those with NMD on Medicare Part D, it’s not unheard of to pay tens of thousands of dollars on pricey prescription drugs. The IRA makes much-needed improvements by capping out-of-pocket costs for most drugs covered under Medicare Part D at $2,000 per year starting in 2025.

In addition, Medicare Part D beneficiaries can now pay the balance owed on their prescription drugs over the length of the year instead of all at once. There is still much more work to do to make therapies more affordable for the NMD community, but this is a big step in the right direction.

3. Caps the Effects of Inflation on Medicare Part D Drugs - Finally, the IRA requires manufacturers of certain drugs, selected on a yearly basis, to reimburse Medicare Part D if the price of the drug increases faster than the urban Consumer Price Index set in January of that year. This will help ensure that drug manufacturers do not unfairly raise the price of its drugs, keeping the price down for everyone.

While we wished the IRA also included more of our priorities, including expanding the Medicaid program and creating a paid-family leave program, we know these policies will make a big difference in the lives of many in the NMD community. Thank you to all the MDA advocate who spoke up and made this victory possible.
 

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