Seniors with high medication costs stand to significantly reduce their annual out-of-pocket spending when the cap starts in 2025. Going into the new year, seniors who take prescription drugs and receive Medicare benefits are likely to shell out less for those treatments. That’s due to a provision in the 2022 Inflation Reduction Act, set to begin in 2025, which will cap out-of-pocket costs on prescriptions at $2,000 annually.
Medicare’s New $2,000 Drug Cap Promises Hefty Savings
Sarah Bregal, Fast Company
Tue, 12/31/2024 - 4:02pm
BING NEWS:
- Medicare’s new drug price cap kicks in Jan. 1
A key cost-saving provision of the Inflation Reduction Act (IRA) goes into effect in the new year, limiting annual out-of-pocket spending on prescription drugs to $2,000 for Medicare beneficiaries.
12/31/2024 - 5:30 am | View Link - Medicare’s new $2,000 drug cap promises hefty savings
Going into the new year, seniors who take prescription drugs and receive Medicare benefits are likely to shell out less for those treatments. That’s due to a provision in the 2022 Inflation Reduction ...
12/31/2024 - 5:02 am | View Link - Medicare's $2,000 prescription drug cap expected to bring major relief to cancer patients
The new price cap, part of the Inflation Reduction Act, will apply to all prescription drugs covered by Medicare.
12/25/2024 - 7:12 am | View Link - More
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