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Legislative and Regulatory Trends

(L5) Industry Landscape: The Road Ahead for the Inflation Reduction Act

Wednesday, October 18, 2023
2:45 PM – 4:00 PM East Coast USA Time
Location: Sabal
CPE
ACPE UAN:0233-0000-23-059-L03-P | Contact Hours: 1.25 | Activity Type: Knowledge-based
The Inflation Reduction Act (IRA) of 2022 is the most significant and transformative piece of legislation impacting Medicare Part D since the Affordable Care Act. The implications of IRA provisions will impact every stakeholder from beneficiaries to health plans as well as pharmaceutical manufacturers and patients. What actions are health plans taking in response to IRA? How will Medicare drug price negotiations affect the market?

This session will answer these questions and more with a focus on key provisions of IRA and insight into how IRA will potentially change current formulary management strategies, consumer choice, and the marketplace.

Learning Objectives::

At the completion of this activity, participants should be able to:
  1. Explain the major provisions of the Inflation Reduction Act of 2022, including the timeline for its implementation.
  2. Identify the actions that stakeholders such as pharmacy benefit managers and health plans are taking in response to IRA.
  3. Describe how Medicare beneficiaries and beneficiary choice are impacted by IRA.
  4. Summarize how the Medicare drug price negotiation provision of IRA will impact not only Medicare but the rest of the marketplace.