On August 12, congressional Democrats capped off a years-long legislative campaign with the House of Representatives’ passage of the Inflation Reduction Act of 2022 (the “IRA” or the “Bill”). The wide-ranging legislation, which passed the Senate earlier this month through the budget reconciliation process by way of a party-line vote, includes several major health care provisions related to drug pricing and the Affordable Care Act (“ACA”). The Bill now awaits the signature of President Joe Biden, whose administration claims the new law will lower the costs of prescription drugs, reduce federal health care spending, and lock in lower insurance premiums for millions of Americans. Continue
Ropes & Gray attorneys regularly provide insightful perspective on key legal issues.To read more, visit our Alerts archive.