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Many of the 61 million Americans with Medicare are wondering whether their out-of-pocket health costs will be higher in 2025 than in 2024 and, if so, by how much.
But some Medicare enrollees should see relief from drug prices in a new rule this year that caps annual out-of-pocket costs on prescription drugs to $2,000. Under the law, more drugs will be added ...
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 ...
The 15 drugs accounted for $41 billion, or 14%, of total Medicare Part D spending between Nov. 1, 2023, and Oct. 1, 2024.
Starting Jan. 1, millions of Americans who get their prescription drugs through Medicare could get a major financial break when a $2,000 out-of-pocket spending cap on medications goes into effect.
Enrollees in original Medicare need to have a separate Part D insurance plan for prescription drug costs. For 2025, expect to pay an average of $40 per month for this premium, Orman explained.
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