On Tuesday, September 17, the Senate Finance Committee held a hearing titled, “Lower Health Care Costs for Americans: Understanding the Benefits of the Inflation Reduction Act.” During the hearing, Members and witnesses discussed out-of-pocket (OOP) expenses, pre-existing conditions, premium tax credits, step therapy, prior authorization, price negotiation, pharmacy benefit managers (PBMs), Part D premium demonstration project, formulary placement, small molecule and large molecule drugs, patents, generics and biosimilars, research and development (R&D), competition, insulin, commercial insurance, drug shortages, corporate earnings, preventive care, accountable care organizations (ACOs), orphan drugs, ACA plan value, and innovation incentives.
Download our summary memo here.