Inflation Reduction Act is causing ‘dramatic’ rise in Medicare premiums, experts say

Published 5 Min Read

Bloomberg/Ramsay De GivePresident Joe Biden speaks about the Inflation Reduction Act in August 2023. The law was designed to reduce Medicare costs, but researchers say it's causing a jump in Part D premiums.

The Inflation Reduction Act was supposed to make Medicare cheaper. But in at least one way, it appears to be doing the opposite.

As 2023 comes to an end, seniors across the country are finding out what their premiums will be for Medicare Part D, the part that covers prescription drugs, in 2024. And many have learned their bills will be much higher next year.

Nathan Place
National Reporter

Nathan Place is a national reporter at American Banker. A native of New York City, he has worked for more than a decade in both print and video journalism. He got his start in Beijing, where he … Read full bio


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