Changes in Medication Use After Medicare Part D Annual Out-of-Pocket Spending Caps

After the Inflation Reduction Act capped annual out-of-pocket drug costs for Medicare patients starting in 2024, use of the highest-cost medications (≥$7,000/month) rose 36% within two years compared with privately insured patients. The findings suggest that the out-of-pocket cap improved access to expensive drugs for Medicare patients, although this higher use of costly medications could be associated with substantial increases in Medicare spending.