The Hill (12/31, Choi ) reported, “A key cost-saving provision of the Inflation Reduction Act goes into effect in the new year, limiting annual out-of-pocket spending on prescription drugs to $2,000 for Medicare beneficiaries.” As of “Jan. 1, 2025, an estimated 19 million Medicare beneficiaries will see their out-of-pocket Medicare Part D spending capped at $2,000 for the year.” The “annual cap will be indexed to the rate of inflation every year going forward.” The Hill added, “An interim spending cap of roughly $3,500 was put in place in 2024.”
Related Links:
— “Medicare’s new drug price cap kicks in Jan. 1,” Joseph Choi, The Hill, December 31, 2024