The inflation reducation act's medicare part D drug price negotiation: an unlikely outcome

The Inflation Reduction Act (IRA) was signed into law on August 16, 2022, and the passage of this unassuming piece of legislation marks one of the most important advancements in health care policy in the United States. A key component of the law is its efforts to increase access and affordability of prescription drugs for Medicare Part D enrollees. The Inflation Reduction Act's authorization for the Secretary of the Department of Health and Human Services (HHS) to negotiate prices of qualifying, highexpenditure, single-source drugs with pharmaceutical companies represents a significant federal policy step toward cost containment and equitable access to prescription drugs for roughly 53 million Americans. This paper examines the political, social, and economic factors that contributed to the law's passage given historical opposition to federal health care policy.