The Inflation Reduction Act alone won’t lower prescription drug costs
By Dr. Lyndon Haviland
February 9, 2023
People are choosing between paying for essential medications and putting food on their tables. The Biden administration took steps last year to control runaway prescription drug costs as part of the Inflation Reduction Act (IRA). But many of the bill’s provisions fall short, and some are years away from helping Americans gain access to drugs at a reasonable cost. …
President Biden should be applauded for doing more than any other president in recent history to try and address the issue of skyrocketing prescription drug prices. The Inflation Reduction Act is an important start — but the problem is nowhere close to being solved.
Lawmakers must continue to push for faster reductions in prescription drug prices and create incentives for health insurers to cover the widest array of pharmaceutical options on their formularies. Then, and only then, will we have a strong reason to celebrate.