Abstract
The Inflation Reduction Act (IRA) of 2022 allows the government to negotiate prices of selected drugs covered under Medicare Parts B and D. Such drugs will be subjected to a maximum fair price (MFP), where the manufactures will be levied to discount their drug. As a result, commercial plans are also likely to revisit their formulary management strategy to adapt to the change in Medicare-levied prices. This research aims to describe the potential impact of IRA on pricing and management of drugs under commercial plans in response to IRA.
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