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Millions of Medicare enrollees are likely to see relief in 2025 when a $2,000 cap on out-of-pocket prescription drug-spending goes into effect. ... such as a $35 price cap on insulin for seniors ...
The cap is part of the Inflation Reduction Act, the 2022 federal climate and health care bill that also empowered Medicare to negotiate drug prices with pharmaceutical companies. Because the cap ...
The most significant Medicare change for 2025 will be the new $2,000 cap for prescription drugs. It’s expected to lower out-of-pocket medication costs for 11 million Medicare beneficiaries ...
Starting Jan. 1, older adults on Medicare will spend no more than $2,000 a year on prescription drugs when a new price cap on out-of-pocket payments from the Inflation Reduction Act goes into effect.
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.
Starting January 1, people enrolled in Medicare will pay a maximum of $2,000 on out-of-pocket prescription drugs, a new cap put in place by the Inflation Reduction Act.