Insurers confirm IRA will reduce patient treatment options

A recent survey conducted by Magnolia Market Access provides insight directly from insurers, revealing in no uncertain terms that insurers plan to restrict coverage in Medicare Part D because of the USA’s Inflation Reduction Act (IRA).

When assessing the law, the negative impact it is having on access to medicines cannot be overlooked, according to US trade group Pharmaceutical Research and Manufacturers of America (PhRMA), which says the following is what should be noted:

• 89% of      insurers plan to increase utilization management tools and pare down      formularies;
• 78% of      insurers expect to create more stringent utilization management for new      medicines;
• 83% of      insurers plan to increase the number of medicines excluded from their      formularies; and
• 78% of      insurers plan to decrease the number of therapeutic options in classes      with medicines selected for price setting.