wilkes

The Inflation Reduction Act, which Congress passed and Biden signed into law in August 2022, included an insulin provision that went further than Trump's voluntary initiative.

The act did cap out-of-pocket costs of insulin for Medicare patients at $35 per month. But, whereas the Trump program applied only to certain Medicare Part D plans, the act mandated that all Medicare drug programs cap out-of-pocket insulin costs - including those in what's known as Medicare Part B, which pays for medical equipment such as insulin pumps. The act's insulin provisions took effect Jan. 1, 2023, for Part D plans; and July 1 of that year for Part B.

The act also mandated that the out-of-pocket price cap apply to all insulin products a given Medicare plan covers, not just a subset.