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Summary

The Inflation Reduction Act's changes for 2025 are likely to be disruptive to the current Medicare Part D beneficiary market. While the Centers for Medicare & Medicaid Services (CMS) has responded with a demonstration plan intended to reduce the extent of changes, the 2025 market may look quite different from the market of offerings in previous years. Understanding these changes will inform policy makers, regulators and insurance companies to make well informed decisions in the first several years of the new policy environment. We propose two specific aims: Examine changes in Part D plan benefit configuration and generosity between 2021-2025. Measure the effects of enrollment shifts due to changes in premiums and plan offerings on clinical outcomes

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