HHS Secretary and Administration Officials Meet with Pharmacy Leaders to Promote Medicare Prescription Drug Benefits

Strategic Insights -

United States Secretary of Health and Human Services (HHS) Xavier Becerra, Director of the Domestic Policy Council Neera Tanden, and Administrator of the Centers for Medicare and Medicaid Services Chiquita Brooks-LaSure held a roundtable discussion with pharmacy leaders at the White House to discuss how pharmacies can work together with the Biden-Harris Administration to educate consumers about the new Medicare prescription drug benefits under the Inflation Reduction Act. This meeting builds on previous efforts to inform pharmacy leaders about the law and its potential benefits for their customers.

Key Takeaways:

  • The Inflation Reduction Act provides new Medicare prescription drug benefits, including the Extra Help program, which assists low-income seniors and people with disabilities with prescription medication costs.
  • Up to three million Americans may benefit from the Extra Help program but have not yet enrolled, and pharmacies are encouraged to promote these benefits and assist with enrollment.
  • The Biden-Harris Administration has already taken steps to lower costs for Americans, including providing free recommended vaccinations and reducing the cost of insulin products.
  • A July report by the HHS' Office of the Assistant Secretary for Planning and Evaluation estimated that the Inflation Reduction Act's changes to the Medicare Part D program could reduce out-of-pocket spending by nearly $400 for over 18.7 million enrollees.
  • Nearly 1.9 million enrollees are projected to save at least $1,000 in 2025 as a result of the law's changes.
  • The group discussed ways to educate consumers about the new Medicare prescription drug benefits and ways pharmacies can assist with the Medicaid coverage renewal process.
  • HHS is committed to partnering with pharmacies on a range of issues and will continue to grow this partnership over time.

Statistics:

  • 18.7 million Medicare Part D enrollees may benefit from reduced out-of-pocket spending due to the changes in the Inflation Reduction Act (HHS report, July).
  • $400: the estimated reduction in out-of-pocket spending for each of the 18.7 million Medicare Part D enrollees (HHS report, July).
  • $1,000: the amount of savings projected for nearly 1.9 million Medicare Part D enrollees in 2025 as a result of the Inflation Reduction Act's changes (HHS report, July).
  • 3 million: the number of Americans who may benefit from the Extra Help program but have not yet enrolled (HHS, Secretary Becerra, Director Tanden, and Administrator Brooks-LaSure letter to national pharmacies and pharmacy associations).

Sources:

  • The U.S. Department of Health and Human Services (HHS) announcement (date not specified).
  • HHS' Office of the Assistant Secretary for Planning and Evaluation (ASPE) report (July).
  • Letter from HHS Secretary Xavier Becerra, Director of the Domestic Policy Council Neera Tanden, and Administrator of the Centers for Medicare and Medicaid Services Chiquita Brooks-LaSure to national pharmacies and pharmacy associations (date not specified).