Reuters (8/28, Aboulenein, Niasse) reports, “More than 1 million people in the U.S. will save over $1,000 a year beginning in 2025, when an annual $2,000 cap on prescription drug out-of-pocket costs kicks in, the leading lobbying group for older Americans said on Wednesday.” As part of the Inflation Reduction Act, the cap’s prescription drug component, called Part D, “provides coverage for around 56 million people.”
The Hill (8/28, O’Connell-Domenech ) reports, “Between 3 and 4 million Medicare Part D enrollees are expected to benefit from the out-of-pocket cap every year between 2025 and 2029,” while “about 40% of Medicare drug plan enrollees – or roughly 1.4 million people – are expected to reach the new out-of-pocket cap between 2025 and 2029.” The report was published by AARP.
Related Links:
— “Biden cap on drug costs will save US seniors over $1,000 a year, study finds,”Ahmed Aboulenein and Amina Niasse, Reuters, August 28, 2024