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The Medicare Prescription Drug, Improvement, and Modernization Act, [1] also called the Medicare Modernization Act or MMA, is a federal law of the United States, enacted in 2003. [2] It produced the largest overhaul of Medicare in the public health program's 38-year history.
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.
The Biden-Harris administration says it will save millions of Americans $1.5 billion in just the first year of a new program that lowers the cost of certain prescription drugs.
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.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Medicare_Prescription_Drug,_Improvement,_and_Modernization_Act_of_2003&oldid=980354208"
Several changes are coming to Medicare Part D prescription drug plans in 2025 that could impact drug costs and plan coverage. One change is an annual $2,000 out-of-pocket cap.
As president, Bush signed into law the Medicare Prescription Drug, Improvement, and Modernization Act which included a prescription drug plan for elderly and disabled Americans. [59] During the 2004 presidential election, both the George Bush and John Kerry campaigns offered health care proposals. Bush's proposals for expanding health care ...
The negotiations are a part of President Joe Biden's Inflation Reduction Act. ... People enrolled in Medicare prescription drug coverage could cumulatively save an estimated $1.5 billion, and ...
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