Pharmaceutical Commerce: Continued affordability challenges in the offing
During our transition, where to find information about:
- Our merged organization: uniting.patientadvocate.org
- Financial assistance: totalassist.org
- Additional direct patient services and resources: patientadvocate.org
- Education: panfoundation.org and education.patientadvocate.org
- Clinical trials education: clinicaltrials.panfoundation.org
- Advocacy: npaf.org
- Research: patientinsightinstitute.org
Starting on January 1, 2024, individuals with Medicare Part D coverage may start to see their out-of-pocket (OOP) costs for prescription medications decline, the latest Medicare reforms enacted through the Inflation Reduction Act to take effect. More changes are ahead when additional reforms, including the $2,000 annual cap on out-of-pocket prescription costs, take effect in 2025.
In late 2022, the PAN Foundation commissioned research by Avalere, a healthcare consulting firm, to examine the projected beneficiary utilization and spending by Medicare Part D beneficiaries under the new reforms. The research showed that millions of patients will reach the $2,000 ceiling in 2025. The findings also showed that more patients will be able to start and stay on treatment. Read the article to learn more about the research.
PAN Foundation President and CEO, Kevin L. Hagan, and Chief Advocacy and Engagement Officer, Amy Niles, co-authored this article for Pharmaceutical Commerce.