The Inflation Reduction Act allows Medicare subscribers to utilize a 12-month payment plan for prescription drugs. But is the "buy now, pay later" strategy necessarily a good thing for our healthcare system?

Silvur Technology Services CEO and retirement expert Rhian Horgan joined Robert 'Bob' Powell on Decoding Retirement to discuss the implications of the Inflation Reduction Act on the American healthcare system, what you need to know about the Medicare Annual Enrollment Period, and much more.

Inflation Reduction Act (decoded)

The Inflation Reduction Act of 2022, signed into law by President Biden on August 16, 2022, includes several provisions to lower prescription drug costs for people with Medicare and reduce drug spending by the federal government.

"I would describe it as a buy now, pay later. We go to Walmart (WMT), we go to Target (TGT), we can buy now, pay later most of the kind of consumer experiences we have today. And that is what the government has set up," Horgan explains. "The skeptic in me would say, well, what does that say about the American healthcare system? The fact that we need to buy now, pay later for prescription drugs says that something is fundamentally broken."

Yahoo Finance's Decoding Retirement is hosted by Robert Powell, and produced by Zach Faulds.

Find more episodes of Decoding Retirement at https://www.cerveza-artesanal.com/videos/series/decoding-retirement.

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Editor's note: This post was written by Zach Faulds.