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The recent passage of the Inflation Reduction Act of 2022 (IRA) has significant health insurance implications for Americans, with $98 billion of its $485 billion in spending going to health care programs. This spending is mostly in the area of expanding government subsidies for those on Affordable Care Act (ACA) individual plans — but the plan also saves money by redesigning Medicare pharmacy spending to include negotiating prices for some drugs. An analysis by the Kaiser Family Foundation estimated that the drug pricing provisions would save the government close to $100 billion over ten years.
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