Inflation Reduction Act of 2022 Includes Several V-BID Elements
The Inflation Reduction Act of 2022, which passed the Senate on August 7th, includes several V-BID related items, notably:
- Caps Medicare patients’ out-of-pocket costs at $2,000 per year, with the option to break that amount into affordable monthly payments
- Covers adult vaccines recommended by the Advisory Committee on Immunization Practices under Medicare Part D without cost-sharing
- Amends the Internal Revenue Code to create a safe-harbor allowing Health Savings Account-eligible plans to cover insulin prior to meeting the plan deductible
- Caps Medicare patients’ out-of-pocket costs for insulin at $35 per month
Since its launch in 2005, the V-BID Center has undertaken research and advocacy efforts supporting policies — such as those included in the Inflation Reduction Act — that reduce out-of-pocket costs for essential medical services for millions of Americans, leading to improved patient-centered outcomes, enhanced equity, and increased efficiency of medical spending.