Insurer Exits After the Inflation Reduction Act Part D Redesign

Following changes in Medicare Part D plan design under the Inflation Reduction Act, 7.5% of beneficiaries (2.9 million people) lost their Part D insurer in 2024, a sharp rise from prior years, with higher insurer exit rates among standalone and enhanced plans. These findings suggest a need for additional policies to ensure adequate competition and affordability in the Part D marketplace.