Studies: IRA Will Spur Medicare Biosimilar Adoption — and Shift Costs to Part D Plans
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May 23, 2024
Medicare Part D plans are likely to revise their biosimilar formulary management policies as a result of recent regulatory changes, not least the Inflation Reduction Act (IRA). With the IRA-mandated overhaul of the Part D benefit taking effect year, Part D payers will be on the hook for a greater share of catastrophic drug costs, which are likely to include biosimilars.
A study in Health Affairs released in May makes the case that the longstanding gap in the coverage of biosimilar products between employer-sponsored insurance plans and Medicare Part D plans is likely to shrink in 2025, when several key components of the IRA take effect.
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