The Inflation Reduction Act signed by President Biden in 2022 somewhat limits how much retirees will pay out of their own pockets for medications this year. Next year, the law imposes a hard cap of $2,000.
But while retirees are getting a reprieve from Congress, insurance companies are pushing in the opposite direction.
According to research appearing in Health Affairs, insurers are tightening retirees’ access to some medications and increasing the number that are excluded from Part D and Medicare Advantage plan coverage altogether.
Ultimately, this might either cost retirees more or, in the most extreme cases, prevent them from taking some necessary medications if they can’t afford to pay the cost themselves.
Unintended consequences when politicians are allowed to legislate health care.
But while retirees are getting a reprieve from Congress, insurance companies are pushing in the opposite direction.
According to research appearing in Health Affairs, insurers are tightening retirees’ access to some medications and increasing the number that are excluded from Part D and Medicare Advantage plan coverage altogether.
Ultimately, this might either cost retirees more or, in the most extreme cases, prevent them from taking some necessary medications if they can’t afford to pay the cost themselves.
Unintended consequences when politicians are allowed to legislate health care.