Understanding Prescription Drug Provisions of the Inflation Reduction Act

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022, which includes a number of significant prescription drug-related provisions, including a new drug price negotiation program in Medicare, inflation rebates in Medicare Part B and Part D, and a redesign of the Medicare Part D benefit, with a new patient out-of-pocket cap of $2,000.

Leaders from the Biotechnology Innovation Organization (BIO) as well as experts from the Hogan Lovells Life Sciences & Health Care team provide detailed overviews with Q&A on these newly enacted provisions.

The webinar covers the new drug price negotiation program, inflation rebates in Medicare, the Medicare Part D benefit redesign, and new out-of-pocket cap, as well as other important provisions that will reduce patient cost sharing.

• Introduction and Context [0:00:00–0:03:53]:
  John Murphy, Chief Policy Officer, BIO
• Inflation Reduction Act Background [0:03:54–0:07:26]:
  Crystal Kuntz, VP Health Policy and Research, BIO
• Drug Price Negotiation Program [0:07:27–0:44:07]:
  Ken Choe, Partner, Hogan Lovells
• Medicare Part B and Part D Inflation Rebates [0:44:08–1:18:29]:
  Alice Valder Curran, Partner, Hogan Lovells
• Medicare Part D Redesign [1:18:30–1:53:05]:
  Melissa Bianchi, Partner, Hogan Lovells
• Conclusion and Next Steps [1:53:06–1:58:02]:
  John Murphy, Chief Policy Officer, BIO Downloadable webinar slides at https://bit.ly/BIO-IRA-slides