Insulin Affordability and the Inflation Reduction Act: Medicare Beneficiary Savings by State and Demographics

Effective January 1, 2023, out-of-pocket costs for insulin are capped at $35 per monthly prescription among Medicare Part D enrollees under the Inflation Reduction Act (IRA). A similar cap takes effect in Medicare Part B on July 1, 2023. An estimated 1.5 million Medicare beneficiaries who use insulin would have saved $734 million in Part D and $27 million in Part B if these caps had been in effect in 2020.

*This content is in the process of Section 508 review. If you need immediate assistance accessing this content, please submit a request to Kenneth Finegold, (202) 557-9553, Kenneth.Finegold@hhs.gov. Content will be updated pending the outcome of the Section 508 review.

Related Content:

• Report to Congress on the Affordability of Insulin