Learning journey

Course Content

The Inflation Reduction Act (IRA) was signed into law in 2022. It is a significant piece of legislation, with a potentially profound impact on the US health care system and drug development landscape. A sound knowledge of the technical detail of the Act is needed before we can understand what its true influence may be. 

Rather than speculating on its potential impact, in this Educational Program we explain the key IRA provisions as they relate to pharmaceutical payment and coverage. We aim to promote a common factual understanding the IRA’s provisions, equipping learners with the knowledge and information needed to support informed conversation and debate on its potential impacts.

Key learnings

  1. To understand the drug selection and price setting process to be enacted, starting in 2023.
  2. To become familiar with the inflation rebate provisions of the IRA, and how these will apply to Medicare Part B and Part D drugs.
  3. To understand the changes to Medicare Part D through the benefit redesign, as well as the other provisions of the IRA impacting cost sharing, premiums and subsidies.


  • All content is free to access. Simply enrol and start learning.
  • Module 0, an introduction to the US Healthcare system, is optional. This module is designed for learners outside of the US to ensure that they understand the basics of the US health care system before exploring how the new IRA legislation may change this.
  • Learners can watch modules in any order that they find most useful. They do not have to be watched in order.
    1. Introduction

    1. 0: Opener

    2. 1: Introduction

    3. 2: US Healthcare in numbers

    4. 3: Federal programs

    5. 4: The IRA

    1. 0: Opener

    2. 1: Introduction

    3. 2: Drug selection

    4. 3: Price Setting

    5. 4: Biosimilar Pause “Special Rule”

    1. 0: Opener

    2. 1: Introduction

    3. 2: Medicare Part B changes in depth

    4. 3: Medicare Part D changes in depth

    1. 0: Opener

    2. 1: Introduction

    3. 2: Medicare Part D benefit redesign and other provisions

    1. Key takeaways

Explaining the US Inflation Reduction Act

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This material was produced with financial support from PhRMA. The views expressed in these presentations are those of the speakers and do not necessarily reflect PhRMA’s views or positions. This material does not constitute legal advice – it represents the speakers’ best read of the Inflation Reduction Act of 2022, Public Law 117-169, and the CMS memo entitled "Medicare Drug Price Negotiation Program: Initial Memorandum, Implementation of Sections 1191-1198 [of the SSA for IPAY 2026] and Solicitation of Comments," as of 15 March 2023.