'All the contributions they make and all their lobbying money gives them a lot of power,' Democratic Rep. Peter Welch said of the pharmaceutical industry.
Beginning next year, the law will also require drug companies to pay Medicare a rebate if they raise their drug prices at a faster rate than inflation. Additionally, the law will limit monthly insulin cost-sharing to $35 for people with Medicare Part D starting in 2023.
The Inflation Reduction Act essentially duplicates the language of Medicaid's inflation rebate law, making Medicare now vulnerable to the same loopholes.that"it's going to be really hard to reverse" the drug price reforms once they take effect and begin having a material impact.
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