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Before the caps, "there were a lot of people who were facing really high out-of-pocket costs, sometimes $10,000 (or more) per year," said Leigh Purvis, prescription drug policy principal at AARP ...
Before the law, there was no out-of-pocket cap for Medicare's Part D, the section that covers prescription drugs, which left seniors at risk of "significant financial burdens," the AARP noted.
The report was conducted by AARP, which lobbied for the passage of the Inflation Reduction Act in 2022. ... More than a million U.S. seniors will save $1,100 in prescription drug costs every year ...
Every year, senior adults have between October 15th through December 7th to enroll in Medicare or change plans. ... “In 2025, 524 PDPs (Prescription Drug Plans) will be offered across the 34 PDP ...
Medicare Prescription Drug, Improvement, and Modernization Act; Long title: An act to amend title XVIII of the Social Security Act to provide for a voluntary prescription drug benefit under the medicare program and to strengthen and improve the medicare program, and for other purposes. Acronyms (colloquial) Medicare Modernization Act or MMA ...
Starting in 2025, out-of-pocket drug spending will be capped at $2,000 per year. ... to $35 in 2024 and 2025. So, at most, standalone drug plan premiums could increase by $35 per month over 2024 ...
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