Medicare Part D & Prescription Drug Pricing

The implementation of the Inflation Reduction Act and other policy changes are reshaping Medicare prescription drug coverage, financing, and payment. MPI’s work examines the redesign of the Medicare Part D benefit, including changes to payment policies and caps on beneficiaries’ out-of-pocket costs, and analyzes their effects on premiums, coverage, and federal spending. We also track evolving dynamics in standalone Prescription Drug Plan and Medicare Advantage Prescription Drug plan markets, including trends in plan choice, premiums, and formulary design.

MPI also examines the implementation of Medicare’s authority to negotiate prices for certain high-expenditure drugs and implications for beneficiaries and federal spending.

Explore policy proposals related to Benefit design, Drug coverage and formularies, Part D beneficiary choice, Drug pricing, Pharmacy benefit manager (PBM) reforms, Pharmacies, and Low-income subsidy in our Medicare Part D Compendium.