In this episode, Chris Condeluci and Dennis Bolin unpack the recent Inflation Reduction Act which includes a three-year extension of premium subsidies and drug pricing reforms. While the drug pricing reforms only apply to Medicare, they will have a halo effect on private insurers and exchanges. The reforms include authority to negotiate drug prices (10 of top 50 drugs in 2026 and 20 in 2029), cap on insulin pricing, and price increases tied to inflation rate.