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Published November 9, 2022
New research supported by Alliance for Aging Research shows significant beneficiary savings, limited budgetary impact of expanding flat copayment policy
WASHINGTON, DC — The Alliance for Aging Research will hold a virtual press call on Monday, November 14, 2022, at 2:00 p.m. ET to discuss a proposed flat copayment policy. On the call, a new analysis by Avalere will outline how a proposed limit to out-of-pocket costs for drugs covered by Medicare would positively impact beneficiaries.
Under the proposal, the maximum flat copay would be $35 for all covered drugs for qualifying Medicare beneficiaries.
The report, infographic, and one-pager will be released on November 14 and coincide with a press call.
What: Press call to review the 2022 Avalere study and provide background information on the history of the flat copayment policy and impact of CMS’s Senior Savings Model for individuals with diabetes. There will be time for Q&A from the press.
When: 2:00-2:30 p.m. ET, Monday, November 14, 2022
Where: Zoom – private link provided upon RSVP to [email protected].
The CMS Innovation Center previously tested a $35 monthly copayment for insulin in the Medicare program, which was recently codified in the Inflation Reduction Act. The new analysis shows that the addition of a flat copayment policy for all Part D drugs could result in significant savings for patients. The need for additional policies to support patient affordability was reinforced by the White House’s October 14th, 2022, Executive Order on Lowering Prescription Drug Costs for Americans, which asked the CMS Innovation Center to submit recommendations for additional models to lower patients’ drug costs no later than January 12, 2023.
Under the Inflation Reduction Act of 2022, all Medicare Part D enrollees will benefit from an out-of-pocket cap starting in 2024. Adding a copayment cap policy to IRA Part D redesign can further reduce costs for beneficiaries.
The Alliance for Aging Research is the leading nonprofit organization dedicated to accelerating the pace of scientific discoveries and their application to vastly improve the universal human experience of aging and health. The Alliance believes advances in research help people live longer, happier, more productive lives and reduce healthcare costs over the long term. For more than 30 years, the Alliance has guided efforts to substantially increase funding and focus for aging at the National Institutes of Health and Food and Drug Administration; built influential coalitions to guide groundbreaking regulatory improvements for age-related diseases; and created award-winning, high-impact educational materials to improve the health and well-being of older adults and their family caregivers. For more information, visit www.agingresearch.org.
Avalere Health,part of Fishawack Health, brings innovative, data-driven solutions to complex health care challenges. Avalere is a healthcare consulting firm that helps companies address questions related to policy, market access, and evidence & strategy. Avalere’s customers span the health care continuum including life sciences companies, leading health plans, top healthcare providers, and healthcare investors. Visit us at www.avalere.com and follow us on Twitter and LinkedIn.
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For more information about the Alliance for Aging Research or to interview an expert on this topic, please contact Katie Riley, Vice President of Communications, Alliance for Aging Research, at [email protected] or Ryan Urgo, Managing Director, Avalere Health, at [email protected].