Last week, President Biden signed into a law the Inflation Reduction Act, a major win for those living with cystic fibrosis and other chronic conditions who face a heavy cost burden in managing their health.
“The Cystic Fibrosis Foundation celebrates the enactment of the Inflation Reduction Act, an incredible step forward in lowering the financial burdens associated with living with cystic fibrosis and addressing affordability issues that could keep someone from seeking care,” said Mary Dwight, senior vice president and chief policy and advocacy officer at the Foundation.
Signed into law on August 16, the act includes important and beneficial provisions for people with CF, including:
Limiting annual Medicare Part D prescription drug out-of-pocket costs to $2,000 starting in 2025. This provision makes drug costs much more affordable for people enrolled in Medicare; previously, there was no limit on out-of-pocket drug spending, forcing many people with CF to shoulder significant costs for their treatments.
Extending health care tax credits for Affordable Care Act marketplace coverage through 2025, which makes coverage much more affordable for many people who rely on the marketplace.
Allowing the government to cap insulin prices at $35 per month for people on Medicare starting in 2023, a particular win for people with CF who are also managing CF-related diabetes.
More than 3,250 people in the United States living with CF currently use Medicare for their health insurance needs. People can qualify for Medicare through their age or disability status.
“From my professional and personal experience, I am elated with the passage of the Inflation Reduction Act’s affordable medical care provisions, which have life-saving implications, especially for people on Medicare,” said Edward Canda, a social work professor emeritus and older adult with CF. “Many cannot afford the out-of-pocket costs for extremely expensive medications that are required for managing chronic and rare diseases. This act is a victory in favor of people’s surviving and thriving.”
Dwight went on to say, “The law is a very positive step forward. The Foundation will continue to work with decision-makers to build upon this progress to ensure all people with CF can afford care to live their healthiest lives possible. This includes placing a limit on insulin out-of-pocket costs in private insurance and addressing coverage gaps in states that have failed to expand Medicaid.”
Read more about the Foundation’s view on the Inflation Reduction Act, and our broader view on affordability.
Considering Medicare as an option during this year’s Open Enrollment? Visit the CF Foundation’s Navigating CF series for more information, or connect with CF Foundation Compass by calling 844-COMPASS (1-844-266-7277), emailing email@example.com, or submitting an online request form.